Revised GDP data released on Friday confirmed that the UK economy shrank in the fourth quarter of 2012 underlining the sentiment that the road to recovery will be slow. The market expectation is that we will see slight growth next quarter meaning the UK will avoid a technical recession; however, there is still a great deal of uncertainty. The main releases this week include manufacturing and construction Purchasing Managers' Index (PMI) as well as data revealing the change in the price of homes in the UK. Call in now for the latest update and the latest news.

A meeting of the 20 largest industrial nations [G20] meetings was held over the weekend where officials worked on plans to increase funds to the global rescue package. It is understood that an increased input from the Euro zone governments must be delivered in the next two months if all of the G20 nations are to provide the IMF with more money. Data out of Europe this week includes German retail sales, Euro zone wide unemployment figures and the Consumer Price Index (CPI). Call in now for the latest update and the latest news.

In the US, figures released on Friday showed that the purchases of new homes exceeded January’s expectations providing further evidence that the US recovery is gathering pace. There is a raft of data out of the US this week which includes preliminary GDP data, unemployment data and the chairman of the Federal Bank is also speaking which will provide more insight into the world’s largest economy. Call in now for the latest update and the latest news.

Elsewhere, there was not much data out on Friday; however, late last night New Zealand posted an unexpected trade deficit with exports falling to a four month low. This week’s main data includes Canadian GDP data, Chinese manufacturing PMI figures and a raft of data out of Australia. Call in now for the latest update and the latest news.

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