Economic Events – the week ahead.
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This article is originally referred from Orbex Market Outlook.
U.S. consumer prices data
The markets open a slow trading week ahead. Both the United States and the Canadian markets are closed on Monday due to a bank holiday.
However, the week slowly picks up pace as data from the United States will keep investors finely tuned as they weigh the number of rate hikes that are due to come until next year.
The U.S. consumer prices data will be the main event this week.
Economists forecast that headline inflation increased 0.2% on the month. Meanwhile, core inflation is forecast to rise 0.2% as well.
UK GDP Report
The monthly GDP report from the UK will be closely watched.
The newly released statistics will cover the month over month GDP growth for the United Kingdom.
This is expected to give investors an up to date view of the UK’s economy.
This is something that will be closely watched as investors stay cautious on the potential impact of the Brexit negotiations on the economy.
The data due to be released by the UK’s Office of National Statistics (ONS) is forecast to show a monthly GDP growth of 0.1% for August.
This comes at a slower pace following July’s increase of 0.3%.
Last week’s PMI reports indicate that the UK’s GDP growth might have averaged 0.4% in the third quarter as well.
UK PMI data
Following the GDP report, the industrial, construction and manufacturing PMI numbers are also due this week.
Estimates show that manufacturing production increased 0.1% on the month following a 0.2% decline.
Meanwhile, construction output is expected to fall 0.4% while industrial production is forecast to rise 0.1% on the month as well.
Data from the Eurozone will is expected to remain quiet over the week.
Germany will be reporting its final inflation figures this week.
Economists forecast that Eurozone inflation increased 0.4% on a month over month basis.
This could potentially boost expectations of an increase in the Eurozone inflation rate as well.
Original Source: Orbex Market Outlook