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Week in Review - 6th August, 2010

Felicity Burch August 06, 2010 09:48

↓  Manufacturing PMI Although the manufacturing PMI fell slightly, to 57.6, in July this remains more than 6 points higher than the long run average. The output balance also fell, by 0.9 points, but is still firmly in positive territory (a balance above 50 is associated with expansion) at 58.5. 
↓  Construction PMI The construction PMI fell by 4.3 points to 54.1 in July, however, last month’s balance of 58.4 was particularly high. There was a 4.5 point fall in new orders, to a balance of 53.5. 
↑ KPMG/REC report on jobs Whilst the KPMG/REC report on jobs showed a significant deceleration, with the rate of expansion in the labour market at an eight-month low, the number of permanent and temporary staff appointments continued to rise in July. Engineering and construction was the sector in which staff were most in demand The rate of increase in permanent staff salaries was the fastest for nearly two and a half years, though the rate of increase in temporary staff salaries eased considerably. 
↔ MPC Announcement Interest rates were once again kept at 0.5%, and the size of the asset purchase programme was held at £200bn.
↑ Index of Production The seasonally adjusted index of manufacturing in June 2010 rose by 4.1% compared with June 2009, and 0.3% compared with May 2010. Output increased in nine of thirteen manufacturing sub-sectors; the largest increases were in machinery & equipment (12.9%) and transport equipment (9%).

The week ahead 

Tue 10th: UK Trade; BRC Retail Sales Monitor; CLG House Price Index

Wed 11th: Bank of England Inflation Report; Labour Market Statistics

Fri 13th: EEF Pay Bulletin 

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