020 7898 0500The key release on Friday was the non-farm payrolls data which came in way above expectations by hitting 313,000. The figure had been expected to hold steady at 200,000 so it really was quite impressive. Indeed, it is the highest increase in payrolls since July 2016.
However, wage growth was slightly disappointing and likely influenced a weakening dollar. It had been expected to grow by 2.8% but it was actually 2.6%. Across the whole year, average hourly earnings grew increased by 68 cents.
On Tuesday we will see the inflation rate for February which is expected to nudge up slightly from 2.1% to 2.2%, while Wednesday brings the retail sales data for February. On Thursday we will see initial jobless claims up to 10 March 2018, followed by the University of Michigan’s consumer sentiment on Friday. We will also see the industrial and manufacturing production figures.
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