Five things CAs need to know this week
A look ahead to some of the things happening in business, accountancy and politics this week.
1. ONS inflation figures released
If the Bank of England’s forecast is to be believed, the Office for National Statistics (ONS) figures on inflation, which will be published on Tuesday, could show that the weaker pound has pushed inflation to its 2% target quicker than expected.
If this is the case, the figure will be at its highest since 2013. This report will provide the first hard data on the economy since the UK voted to exit the EU.
2. Unemployment figures released
A day after the data on inflation is released, the ONS will publish its employment data covering employment rates, hours of work and earnings.
Wages are expected to have risen by more than 2% - slightly up on winter's figures but down on the same period last year. Wednesday’s figures are also expected to show top of the 1.6m officially unemployed there are also 1.2m part-timers wanting full-time work and 2.2m people out of the labour force wanting a job.
3. Retail spending figures released
Figures on consumer spending in the UK, released on Thursday, will round off a bumper week of figures from the ONS. As data released on Monday and Tuesday is expected to provide an indication of the post-Brexit UK economy, so are the retail spending figures.
As the uncertainty of a potential recession continues, positive consumer spending could provide a boost to the economy. If UK consumers are confident enough in their financial situation that they continue to take their business to the high street, foreign investors will in turn be more likely to invest if they see that demand is strong.
4. US super stats Tuesday
As in the UK, the US is releasing a swathe of economic data this week. Consumer prices stats and US housing stats will both be released on Tuesday. Consumer prices are not expected to have shifted greatly in July compared to the previous month, indicating a continued sluggish pace of inflation.
Data to be released on the US housing market is expected to mirror the behaviour of consumer price data. An equally sluggish rate of residential construction has been predicted, with little change in July from the previous month expected.
5. Results from Bovis Homes, Menzies and Premier Oil
- Monday: Interims due from Bovis Homes, Georgia Healthcare and RIT Capital Partners. Finals due from BHP Billiton and Nakama Group.
- Tuesday: Interims due from Cairn Energy, Menzies (John), Hochschild Mining and John Wood. Finals due from BHP Billiton.
- Wednesday: Interims due from Admiral, Balfour Beatty, CLS Holdings, Gem Diamonds and Lookers. Final due from Amiad Water Systems and John Laing Environmental Assets.
- Thursday: Interims due from Capital & Regional, Kaz Minerals, Premier Oil and UK Commercial Property Trust. Final due from Empresaria and Rank.