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The following is an extract from IHS Markit's latest Week
Ahead Economic Preview. For the full report, please click on the
'Download Full Report' link.
A busy week of economic releases is lined up
ahead with US and UK August inflation numbers to
watch. US and China will also be updating their retail
sales and industrial production figures amid varying
degrees of COVID-19 disruption. Employment data in
the UK and Australia will also be of interest.
From the manufacturing perspective, production performance will
be tracked in the week ahead via industrial output data for the US,
China and the Eurozone, with hints sought as to how factories are
coping with record supply disruptions.
From a consumer angle, retail sales data for the US and China
will be scoured for insights into the extent to which the further
spread of the COVID-19 Delta variant likely cooled spending, as
hinted at by business activity growth in the service sector
continuing to wane globally in August
Following the US jobs report disappointment, UK and Australia
will also update employment data from two ends of the globe. While
the former has seen its composite PMI employment index hit a record
high, buoyed by the winding down of the furlough scheme, the
latter's has fallen for the first time in ten months as COVID-19
continued to hit the economy.
Purchasing Managers' Index™ (PMI™) data are compiled by IHS Markit for more than 40 economies worldwide. The monthly data are derived from surveys of senior executives at private sector companies, and are available only via subscription. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.
