Week Ahead


Next week important releases include US jobs report, ISM PMIs, trade balance, construction spending, and factory orders; UK Markit PMIs; Eurozone retail trade; Germany factory orders and industrial output; China Caixin PMIs; Australia Q2 GDP growth, trade balance, and retail sales; Japan household spending; South Korea trade balance; India Markit PMIs; and Turkey and Switzerland Q2 GDP growth rates. Central banks in Australia and Canada will be deciding on monetary policy.

The US will be publishing its highly anticipated jobs report, with market forecasts pointing to a payroll increase of 159 thousand in August, after a smaller-than-expected 164 thousand rise last month. In addition, the ISM Manufacturing PMI is likely to point to the weakest pace of expansion in manufacturing activity since August 2016; while the Non-Manufacturing PMI will probably pick up slightly from July's three-year low. Other notable publications are foreign trade balance, construction spending, factory orders, ADP employment change, IBD/TIPP Economic Optimism, total vehicle sales, and final readings for Markit PMIs and second-quarter labor productivity.  

The US stock market will be closed on Monday for Labor Day.   

Elsewhere in America, central banks in Canada and Chile will be deciding on monetary policy. Also, key economic data to follow include Canada unemployment rate, trade balance, and Ivey PMI; Mexico business and consumer confidence; and Brazil inflation, industrial production, and trade balance.

In the UK, Markit PMIs are set to point to another month of contraction in manufacturing and construction sectors and to a slowdown in services activity growth. Elsewhere in Europe, important releases include: the Eurozone final estimates of Q2 GDP growth and Markit PMIs, retail trade and producer prices; Germany industrial production and manufacturing orders; Italy and Spain Markit PMIs; France trade balance; Turkey second-quarter GDP growth and inflation rate; and Switzerland second-quarter GDP growth, Manufacturing PMI, retail sales and consumer price inflation. The Central Bank of Russia will probably cut interest rates by 25bps on Friday, while central banks in Sweden and Ukraine will also be deciding on monetary policy.

In China, Caixin PMIs will provide an update on manufacturing and service sectors during August, with forecasts pointing to a further decline in factory activity amid ongoing trade tensions with the US. The Reserve Bank of Australia is expected to leave interest rates at record lows when it meets on Tuesday. Also, the country will be publishing figures for second-quarter GDP growth, trade balance, retail sales and AIG indexes. Meanwhile in Japan, investors will focus on household spending, average earnings and leading economic index.

Other highlights for the Asia-Pacific region include: South Korea trade balance, Manufacturing PMI and consumer inflation and final Q2 GDP growth; India Markit PMIs; Indonesia and the Philippines inflation rates; and Malaysia foreign trade.

Week Ahead


Joana Ferreira | joana.ferreira@tradingeconomics.com
8/30/2019 5:43:41 PM