The Week Ahead: UK PMI data, EU unemployment and inflation data

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This week we’ll see the updated UK manufacturing PMI that will hopefully see a continuation of the positive results seen in April. Meanwhile, new data on the status of European employment and inflation will come out mid week.

Fund Strategy looks at some key events shaping the week and what to expect.

Monday 29 May

  • Canada – GDP Q1
  • EP Committee on Economic and Monetary Affairs

Tuesday 30 May

  • EU economic sentiment & business climate indicators

Wednesday 31 May

  • EU Unemployment Statistics
  • Euro area inflation – flash estimate
  • FTSE UK Index Series Quarterly Review (including the FTSE 100 Index)
  • OPG Power Ventures (Q4 trading update)

The Share Centre investment research analyst Graham Spooner says: “Investors’ hopes that the company would have benefitted from the pick-up in the Indian economy have so far come to nothing.

“The company were hit earlier in the year from changes in the currency, weather patterns and even the death of a Tamil Nadu minister. An update on the proposed move into solar generation, along with its existing operations will be worth noting in this update.”

Thursday 1 June

  • UK Manufacturing Purchasing Managers’ Index

Spooner says: “Earlier this year, PMIs tracking UK manufacturing and construction were disappointing, but April saw an improvement, with the manufacturing PMI rising from 54.2 – a four month low – to 57.3 – a three year high.

“A subsequent survey from the CBI pointed to robust growth in manufacturing in the May. The construction PMI also rose, from 52.2, to 53.1. The data painted a much more benign outlook for the UK economy than many economists had forecast.  Did May see a continuation of the good form?”

Friday 2 June

  • The Employment Situation – US statistical release
  • UK Construction Purchasing Managers’ Index