(Sharecast News) – Wednesday will be a busy day for macroeconomic analysis as investors digest a barrage of data from home and abroad.
First up will be the July figures for UK consumer and producer price inflation, which will be keenly watched following Tuesday’s news that wage growth unexpectedly accelerated to a record high.
“Inevitably this will increase the pressure on the Bank of England to raise rates again at its September meeting by another 25bps, even as headline CPI for July is expected to slow sharply below 7% in numbers released tomorrow,” said chief market analyst Michael Hewson from CMC Markets UK.
Economists widely predict that consumer prices will have fallen 0.5% in July after a 0.1% gain in June. The annual rate of inflation is estimated to have dropped to 6.9% from 7.9%. On a core basis, which strips out more volatile food and energy prices, inflation is expected to have slowed from 6.9% to 6.8%.
The producer price index is estimated to have dropped 2.9% year-on-year after a 2.7% decline in June.
Elsewhere, Wednesday will see the release of EU industrial production figures, expected to show a 0.6% in monthly output in June after rising 0.2% in May.
Across the Pond, US housing starts and US industrial production data for July will be released before the opening bell on Wall Street, along with crude oil inventories not long after.
In company news, just five companies are expected to report their half-yearly reports, including heavyweight financial firms Admiral and Aviva.
Wednesday 16 August
Admiral Group, Aviva, Balfour Beatty, Essentra, Marshalls
INTERIM DIVIDEND PAYMENT DATE
INTERIM EX-DIVIDEND DATE
Coventry 12 1/8% Perm Int Bearing Shs #1000
QUARTERLY PAYMENT DATE
QUARTERLY EX-DIVIDEND DATE
Seplat Energy (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Building Permits (US) (13:30)
Capacity Utilisation (US) (14:15)
Crude Oil Inventories (US) (15:30)
Housing Starts (US) (13:30)
Industrial Production (EU) (10:00)
Industrial Production (US) (14:15)
MBA Mortgage Applications (US) (12:00)
Globaltrans Investment GDR (Reg S)
Cadence Minerals, Calnex Solutions , NextEnergy Solar Fund Limited Red, Streaksai
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (07:00)
Producer Price Index (07:00)
Retail Price Index (07:00)