UK economic indicators dominate, with little in the way of company news scheduled in the diary.
“Friday brings UK short-term indicator day, when they announce monthly GDP [gross domestic product], industrial & manufacturing production, and the trade data.
“The GDP is the most important number. I think a continued steady increase in growth there despite the newspaper photos we see of empty supermarket shelves would be reassuring to the market and could help GBP [sterling] to rally,” suggested Marshall Gittler at BDSwiss.
GDP is tipped to be up 8.5% year-on-year in July, which most years would be an eye-catching number but as it follows June’s 15.2% gain it might be regarded as a bit underwhelming.
Manufacturing production, which was up 0.2% month-on-month in June is expected to rise 0.1% in July while industrial production is forecast to improve by 0.3% after June’s 0.5% increase.
The balance of trade is seen widening to GBP3bn in July from June’s GBP2.5bn.
Friday 10 September:
Economic data: UK balance of trade, UK construction output, UK industrial/manufacturing production, UK GDP