Highlights
UK retail sales in August are expected to rise 0.5 percent on the month after falling 1.2 percent in July, which was more than double the expected decline.
In France, minimal change is expected in the flash purchasing managers' index (PMI) data, with the composite output index seen rising just a tick to 46.1 and both sectors' PMIs holding flat at 46.0.
The German manufacturing PMI, which has contracted for 14 months in a row, is expected to hold unchanged at a deeply contractionary 39.1 in September. Services, seen slipping a further 3 tenths to 47.0, fell into contraction in August for the first time this year.
For the Eurozone PMI, after August's 43.5 for manufacturing and 47.9 for services, the consensus estimates for September look for little change, at 43.6 and 47.5 respectively.
In the UK, services, at 49.5 in August, fell into sub-50 contraction for the first time since January this year and are not expected to emerge in September where the consensus is 49.0. Manufacturing, which has been in sub-50 contraction for 13 months in a row, is seen holding unchanged at a deeply negative 43.0. The composite is expected to hold steady at 48.5 versus August's 48.6.
The US services PMI has held the 50 column the last seven reports but has been noticeably slowing, with the consensus for September at 50.2 versus August's 50.5. Manufacturing, at 47.9 in August, is expected at 47.8 in July.
Canadian retail sales in July are expected to rise 0.4 percent following a 0.1 percent increase in June, showing some resilience in the economy.
Federal Reserve Board Governor Lisa Cook will give a keynote speech before the National Bureau of Economic Research Economics of Artificial Intelligence Conference, Fall 2023 at 8:50 a.m. EDT (1250 GMT).
San Francisco Federal Reserve Bank President Mary Daly will participate in a virtual fireside chat on inflation, monetary policy and the economy before an event held in coordination with Greater Phoenix Leadership at 1 p.m. (1700 GMT).
In France, minimal change is expected in the flash purchasing managers' index (PMI) data, with the composite output index seen rising just a tick to 46.1 and both sectors' PMIs holding flat at 46.0.
The German manufacturing PMI, which has contracted for 14 months in a row, is expected to hold unchanged at a deeply contractionary 39.1 in September. Services, seen slipping a further 3 tenths to 47.0, fell into contraction in August for the first time this year.
For the Eurozone PMI, after August's 43.5 for manufacturing and 47.9 for services, the consensus estimates for September look for little change, at 43.6 and 47.5 respectively.
In the UK, services, at 49.5 in August, fell into sub-50 contraction for the first time since January this year and are not expected to emerge in September where the consensus is 49.0. Manufacturing, which has been in sub-50 contraction for 13 months in a row, is seen holding unchanged at a deeply negative 43.0. The composite is expected to hold steady at 48.5 versus August's 48.6.
The US services PMI has held the 50 column the last seven reports but has been noticeably slowing, with the consensus for September at 50.2 versus August's 50.5. Manufacturing, at 47.9 in August, is expected at 47.8 in July.
Canadian retail sales in July are expected to rise 0.4 percent following a 0.1 percent increase in June, showing some resilience in the economy.
Federal Reserve Board Governor Lisa Cook will give a keynote speech before the National Bureau of Economic Research Economics of Artificial Intelligence Conference, Fall 2023 at 8:50 a.m. EDT (1250 GMT).
San Francisco Federal Reserve Bank President Mary Daly will participate in a virtual fireside chat on inflation, monetary policy and the economy before an event held in coordination with Greater Phoenix Leadership at 1 p.m. (1700 GMT).
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
