Events that marked the week:

Thursday's session brought UK Current Account and Net Lending to Individuals data. The United Kingdom’s (UK) current account deficit was £32.7 billion in Quarter 4 2015, up from a revised deficit of £20.1 billion in Quarter 3 2015. Analysts were anticipating deficit of £21.1 billion. The deficit in Quarter 4 2015 equated to 7.0% of gross domestic product (GDP) at current market prices, the largest proportion since quarterly records began in 1955, up from 4.3% in Quarter 3 2015. The widening in the current account deficit was due to a widening in the deficits on primary income, total trade and secondary income.

Separate report on Money and Credit showed that total lending to individuals increased by £4.9 billion in February, in line with the average over the previous six months. The number of loan approvals for house purchase was 73,871 in February, compared to the average of 70,991 over the previous six months. The number of approvals for remortgaging was 40,749, broadly in line with the average over the previous six months. The number of approvals for other purposes was 12,514, compared to the average of 12,103 over the previous six months.

From the UK, on Friday, Manufacturing PMI data was published. The opening quarter of 2016 saw the UK manufacturing sector register one of its weakest performances during the past three years. The seasonally adjusted Markit/CIPS Purchasing Managers’ Index  posted 51.0 in March, only a couple of ticks higher than February’s 34-month low of 50.8. Analysts were predicting increase to 51.4.This left the quarterly average at a relatively subdued level of 51.6, equalling the lowest recorded since the PMI first moved back above the neutral 50.0 mark in early 2013. March saw production rise at a pace unchanged from February’s seven-month low.

This week markets will be looking at:

Construction PMI (Monday 10:30)

Services PMI (Tuesday 10:30)

Industrial Production (Friday 10:30)