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U.S. retail sales highlight this week’s slate of economic data.

MONDAY

The Japanese economy likely expanded 2.3% from the previous quarter in the October-December period, according to economists surveyed by data provider Quick. Economists say the government’s travel incentives and a recovery in exports boosted growth, but they expect the economy to shrink again in the first quarter of 2021 due to a second state of emergency issued in January.

WEDNESDAY

U.S. retail sales fell in each of the final three months of 2020 as Covid-19 cases mounted, governments imposed more restrictions, fiscal support faded and consumers showed more caution. Economists forecast that the January number will show a turnaround, fueled in part by the latest round of stimulus payments and improving data on the virus in the second half of the month.