We have had a series of data releases this week ranging from inflation, growth, industrial production, unemployment and retail sales.  There was very little new news to be gleaned from the numbers; the consensus range was extremely wide, meaning there were no shocks to report.

The month certainly feels like a dead rubber, as the markets look towards the data releases in August, which will give us the numbers for the whole of the second quarter.  Perhaps this will give us an indication of how effective the loosening in lockdown restrictions has been.  It is expected that retails sales in the US will continue to grow, as the savings acquired in lockdown are treated like a windfall to consumers.

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