A much quieter week here in Australia and globally for data after the big data drop a week ago for the start of the month and especially leading up to the release of the June quarter national accounts and confirmation of the 7% slide in GDP from the March quarter.
This week sees Australia getting an update on jobs and wages for most of August tomorrow, ahead of the Labour Force report on Thursday week. There are also lending indicators on Wednesday and overseas arrivals and departures on Friday.
Thursday sees the annual results from the department store chain, Myer – they will be deeply in the red.
Globally, the European Central Bank releases its latest monetary policy decision Thursday night, our time, China releases its August trade, inflation, and bank lending data – three releases important for Australia and the US sees the release of inflation data for last month.
There will also be industrial production numbers for the UK, Germany, Italy, and Spain. Besides China, there will be trade reports from Taiwan, Germany, and the UK.
New estimates of June quarter GDP data for Japan, Russia, and the eurozone will confirm deep second quarter falls.
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In the US, inflation data are updated for august labour market indicators in the form of jobless claims and job openings.
The latest ECB monetary policy decision will be looked at for clues as to the possibility of further stimulus later this year amid signs of falling prices and hints of a weak recovery as Italy and Spain tightened lockdowns.
In the UK, July’s monthly GDP data estimate could show the economy surging, though recent data updates have hinted that growth could fade after the initial rebound.
In Asia, the trade data published for China and Taiwan will be in particular focus as recovery hopes for the region are dependent on trade flows picking up, having been curbed by pandemic supply chain disruptions and weak demand.
China’s inflation data, Japan’s machinery orders, and Indian industrial production will also be released.
