This week's statistics are dominated by the two largest economies – the US and China – which together account for one third of global output. A strong showing will reassure investors that the recovery in the world economy is on track.

The two countries will also be the focus of attention because of speculation about if and when China might revalue the exchange rate of the renminbi, which is currently pegged to the dollar. An understanding with the US is thought to be close following Treasury secretary Tim Geithner's visit to Beijing last week.

US inflation numbers for March are published on Wednesday. Both the headline and core measures of consumer prices are expected to be 0.1 per cent higher than the previous month, taking the annual headline rate to 2.4 per cent. Underlying annual inflation stands at 1.2 per cent, well below what would prompt the Federal Reserve to alter its policy stance in the near future.