• Following last night's Mansion House speech from Mark Carney with no domestic policy bearing, Chinese data on industrial production and retail sales will provide the morning economics focus. In the context of anxieties about the risk of an abrupt slowdown in Chinese activity, data for May will be watched for signs of stabilisation following the authorities' recent stimulative policy measures. Consensus expectations are for annual growth rates little changed from the 5.9% and 10.0% respectively for industrial production and retail sales seen in April's data, although the weakness of imports in the trade report published earlier this week points to some downside risk, notes Lloyds Bank.

• In the afternoon, US retail sales data for May will be closely watched as the final bellwether release in advance of the FOMC meeting on 17 June. Of particular interest will be signs that US consumption expenditure is beginning to benefit from lower oil prices and income gains underpinned by solid job growth, after a soft patch over Q1. 

• Headline retail sales are set to be supported by a surge in vehicle unit sales in May to their highest level since 2005, while motor fuel expenditure is likely to rise on the back of higher gasoline prices, states Lloyds Bank. Meanwhile, the retail sales control group - which feeds into estimates of GDP - is expected to recover somewhat following soft readings since the beginning of the year. Lloyds Bank anticipates a 1.1% monthly rise in headline sales, with the control group rising by a solid 0.5% on the month.

• Further US colour is set to come from April's business inventories data, as well as a timely update on the labour market from the latest weekly unemployment claims statistics. Little change is expected from the recent low levels of initial jobless claims.