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Week Ahead Economic Preview: Week Of 21 September 2020

By IHS Markit (Chris Williamson)Market OverviewSep 18, 2020 05:55
uk.investing.com/analysis/week-ahead-economic-preview-week-of-21-september-2020-200446905
Week Ahead Economic Preview: Week Of 21 September 2020
By IHS Markit (Chris Williamson)   |  Sep 18, 2020 05:55
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The coming week sees flash PMI surveys released for the US, Eurozone, Japan, UK and Australia, which will provide the first insights into how these economies have ended the third quarter. The August PMI data indicated a further strengthening of the rebound of global business activity from the collapse seen in the second quarter, but many consumer-facing sectors remained in decline and worries over renewed lockdown measures amid fresh waves of infections have hit activity, notably in Europe.

While IHS Markit's PMI surveys have signalled a strong US economic rebound in the third quarter so far, the manufacturing expansion remained lacklustre and consumer services providers continued to report falling activity as virus worries persisted. The September manufacturing and services data will therefore provide a valuable guide to whether momentum is being sustained or lost as we head into the fourth quarter. Additional insight will come from Kansas and Richmond Fed manufacturing surveys. The US also publishes durable goods orders data for August, alongside key housing market metrics for new and existing homes sales, as well as home prices.

Flash PMI data for the eurozone and UK will be especially eagerly awaited, not least by policymakers seeking a grasp on recovery momentum. While the UK led the PMI growth rankings in August, sub-indices from the survey hinted that the upturn lacked legs, notably with a steepening loss of jobs being reported. Meanwhile, rising COVID infection rates caused renewed economic contractions in Italy and Spain during August, according to the PMIs, raising fears that the eurozone's recovery is fading. IFO and other national sentiment indices are also released.

Over in Asia Pacific, mainland China's industrial profits are issued as well as industrial production data for Singapore and Taiwan, plus trade numbers for Taiwan, Hong Kong SAR and Thailand. As these data only show the situation to August, it's the timelier PMI numbers for Japan and Australia for September that will likely steer sentiment on recovery trajectories for the region. Policy meetings are meanwhile convened in New Zealand and Thailand.

"Disclaimer: The intellectual property rights to these data provided herein are owned by or licensed to Markit Economics Limited. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without Markit’s prior consent. Markit shall not have any liability, duty or obligation for or relating to the content or information (“data”) contained herein, any errors, inaccuracies, omissions or delays in the data, or for any actions taken in reliance thereon.

In no event shall Markit be liable for any special, incidental, or consequential damages, arising out of the use of the data. Purchasing Managers' Index™ and PMI™ are either registered trademarks of Markit Economics Limited or licensed to Markit Economics Limited. Markit is a registered trade mark of Markit Group Limited."

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Week Ahead Economic Preview: Week Of 21 September 2020
 

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Week Ahead Economic Preview: Week Of 21 September 2020

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