What CAs need to know this week: 5 January 2016
A look ahead to some of the key things happening this week.
Prime Minister to give statement on the EU summit
Prime Minister David Cameron will deliver his statement on the EU summit when parliament opens for 2016 today (5 January). The statement outlines the PM’s renegotiation of the UK’s membership of the EU and could mark the official start of the referendum campaign.
China’s economy in spotlight
All eyes will be on the health of China’s economy this week, with three important financial indicators set for publication. China’s foreign trade figures will be released on Friday (8 January), with experts predicting a steady recovery in US exports, but a flattening for Japan and Europe shipments. Imports are expected to continue falling. The country’s Consumer Price Index (CPI) and Producer Price Index (PPI) are also due to be announced this week (9 January).
Profitability of UK companies announced
The latest profitability figures of UK companies will be revealed by the Office for National Statistics (ONS) on Thursday (7 January). The third quarter figures come as new research by Grant Thornton shows that UK and Irish companies are the most optimistic going into 2016 than any other European Union nations. The survey found that nearly three quarters of UK-based businesses are hopeful for the coming year.
US jobs and manufacturing sector under scrutiny
This week will see the US announce its monthly manufacturing sector figures, which will reveal what impact the strong dollar and slowing global growth have had on overseas demand. On Friday (8 January), the US will release its jobs report, including the unemployment rate and non-farm payroll data for December. The US added an average of 237,000 new jobs a month in 2015 – a figure that was an important factor in the Federal Reserve’s recent decision to raise interest rates for the first time in a decade.
Post-festive trading updates from top UK retailers
The financial performance of some of the UK’s biggest high street retailers over the festive period will be in the news this week, with trading updates due from Next (5 January), John Lewis (6 January) and M&S Group (7 January). Poundland Group, Topps Tiles and Persimmon will also report on recent performance.