Economic week ahead

With last week’s PMI surveys painting a mixed picture of the UK economy, Thursday’s output data for the manufacturing, industrial and construction sectors will provide a little more clarity on the economy’s current health.

The latest manufacturing PMI survey showed a strong uptick in new export business to near-record levels and expectations are that the sector’s output will pick up in this week’s figures to put UK manufacturers on course for a stronger performance in the second half of 2017. The British Retail Consortium’s sales data will show on Tuesday whether last month the high street continued on from the sector’s strong performance in June. With Eid and warm weather lifting June’s figures, the latest data could point to a less robust showing last month.

The Bank of England’s Agents’ Summary of Business Conditions, a compilation of reports from 12 regional agents liaising with 700 UK businesses, is due on Wednesday.