Economic diary for weekending 22nd August
The key reports last week were based on inflation. In the UK we saw the PPI (the factory inflation) fall slightly, mainly attributable to the reduction in crude and commodity prices.
Consumer inflation was higher than expected in both the UK and US, although both BoE and the Feds are expecting them to go up slightly more now before starting to fall.
A very important measure for consumer driven economies is retail sales. These were disappointing for the US economy, which may suggest that the tax refunds given to stimulate the economy are drying up. We will see the UK retails sales figures this week. Early indications from the British Retail Consortium are that it will come in negative.
The BoE minutes will probably mirror what has already been said by the Governor, although the voting will be watched to get a better idea as to how the whole committee is leaning.
Diary
Monday 18th August
- 00:01 UK Rightmove Housing Price Index (-2.3%)
- 18:00 US NAHB Housing Price Index
Tuesday 19th August
- 00:00 UK No results due
- 13:30 US Building Permits
- 13:30 US Housing starts
- 13:30 US Producers Price Index
Wednesday 20th August
- 09:30 UK BoE Interest Rate meeting minutes
- 11:00 UK CBI Industrial Trends Orders
- 15:35 US Crude Oil Inventories
Thursday 21st August
- 09:30 UK Retail Sales
- 09:30 UK Business Investment - Prelim
- 13:30 US Jobless Claims
- 15:00 US Philadelphia Fed Manufacturing Index
- 15:00 US Leading Indicators
- 15:35 US Advanced GDP Price Index
Friday 22nd August
- 09:30 UK Revised GDP 2nd quarter
- 09:30 UK Index of services
- 15:00 US No results due but Bernanke is speaking
