Business World

Sunday 23 July 2017

Eyes on PMI data in much calmer week

Economists polled by Reuters expect the PMI for the dominant services sector to tick up to 53.5 in March from February’s five-month low of 53.3. (Stock picture)
Economists polled by Reuters expect the PMI for the dominant services sector to tick up to 53.5 in March from February’s five-month low of 53.3. (Stock picture)
John Mulligan

John Mulligan

After a week that included the drama of Article 50 being triggered to herald the UK's formal exit from the EU, this week may prove to be a bit calmer on some fronts.

There are no listed companies in Ireland with results out this week, while in the UK there are just 20 or so with either interims or full-year figures coming out.

Of more interest to many investors and observers will be some key UK economic data that's due out.

IHS Markit will release purchasing managers' index (PMI) surveys for British manufacturing, construction and services today, tomorrow and Wednesday respectively, with official data for manufacturing and construction output for February due to follow on Friday.

Economists polled by Reuters expect the PMI for the dominant services sector to tick up to 53.5 in March from February's five-month low of 53.3.

That reading suggested faltering consumer spending was starting to bite and pointed to first quarter economic growth of around 0.4pc, compared with 0.7pc in late 2016. There's also wider EU data out this week, including PMI numbers and the unemployment rate.

Irish Independent

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