Greek Debt Talks Resume
Later today, the CBI’s distributive trade survey will provide early cues on direction of retail sales for June. Despite the elevated consumer confidence and rising wage growth in the nation, markets anticipate the balance to decline for June following the strong reading in the prior month. Across the Atlantic, personal income and spending data for May and the flash reading of Markit’s PMI for the services sector in June, due later today, will provide fresh guidance on the growth prospects in the economy for the second quarter.
Meanwhile in Europe, the GfK survey on consumer sentiment highlighted the adverse impact the Greek crisis was having on consumers in the region. After the meeting of Euro zone finance ministers last night ended with no agreement, talks have resumed again today as a Greek default lurches closer.