A busy week ahead with August ending and September starting, meaning the usual end of month data from some economies, and the start of month figures for others, including Australia (we also get some June quarter national accounts figures).
Offshore there’s the start of the month surveys of manufacturing on Friday across the world, the US jobs report for August and the second estimate of US GDP, plus reports on inflation and employment from the Eurozone, and more talks on Brexit.
Here we also have the start of data for the June national accounts next week, as well as the July economic data and the end of the June 30 reporting season.
The Australian Bureau of Statistics this week releases the figures for construction work done in the June quarter (a key indicator on Wednesday) and the June quarter business investment data a day later.
Both are likely to show small improvements, but the key part of Thursday’s report will be the second estimate for planned business investment for the 2017-18 financial year.
That has to show a big rise otherwise economists will start worrying about the economic outlook for the next year.
July figures on building approvals are out on Wednesday a day after the ABS releases its important figures on Household Income and Wealth, Australia for 2015-16 and the summary results of the allied Household Expenditure Survey for 2015-16.
August home price data will be out on Friday as well, along with July new home sales earlier in the week.
The corporate reporting season winds up this week – watch for a flood of reports from small industrial and mining companies.
The big reports will come from the likes of Lend Lease, Boral, The Retail Food Group, Harvey Norman Downer EDI and Webjet.
Offshore, events this week will be dominated by the US jobs report for August which will be issued on Friday night – economists keep wondering if the solid growth in recent months (200,000 or more jobs a month) can be sustained and if this solid growth in jobs can be sustained without a wages breakout (2.5% annual in the year to July).
Economists have forecast 180,000 new jobs for August – which is the now usual ballpark estimate. Wage growth is forecast to be 2.6% in the year to August.
Investors also get an update on second quarter growth. Annual GDP growth is expected to be revised up to 2.7% in the second quarter from first estimate reading of 2.6%.
Investors also get an update on manufacturing and US consumer confidence.
There will be also a smattering of companies reporting – Campbell Soup, Dole Food, Best Buy, Brown Forman, Univision, Navistar and Dollar General.
US car sales for August are also due on on Friday as well.
In Europe there’s the resumption of talks between the UK government and the EU. The UK has its Bank Holiday long weekend as well.
There’s also the euro area surveys on business and consumer sentiment as well as inflation figures for August and data on employment.
In Asia, Japan’s retail spending and employment figures will be out this week – inflation for August showed a pick up.
The Bank of Korea has an interest rates decision this week – no move is expected, and an update on second quarter GDP will be issued on Friday.
Indian second quarter GDP will be released mid week as well (and GDP for the June quarter will also be released for Brazil).
