Here are some of the important economic data that will be the focus of the market throughout the week.
German Manufacturing and Services PMI data (Monday 3.30pm): The positive manufacturing and services sector growth readings in Germany for the last few months indicate good progress towards economic recovery. The latest readings are also expected to continue the trend.
UK Manufacturing and Services PMI data (Monday 4.30pm): The UK economy affected by the latest Covid-19 wave is expected to have a slight downward impact on the latest economic sector data readings. However, it is still expected to be at a stable level.
US Manufacturing and Services PMI data (Monday 9.45pm): The economic sector in the United States (US) showed an upward trend reading since the beginning of the year. Although the latest data readings are expected to decline slightly as a result of Covid-19, the economic health is still assessed to be in good shape.
German Business Climate Data (Wednesday 4.00pm): This survey data of over 9,000 businesses in Europe’s largest economy will provide an indication of the current health of the economic sector. Investors will see it as an early signal of changes in economic activity such as spending and investment.
US Gross Domestic Product Data (Thursday 8.30pm): After your reading was published last July, the second reading of US GDP for the second quarter will be published this week. The reading figure is projected to increase to 6.6% compared to the initial reading of 6.5%.
US Consumer Spending Index Data (Friday 8.30pm): The spending index in the US is expected to decline further after a 3-month consecutive decline. A weak reading will have an impact on the depreciation of the US dollar over the weekend.
