The Daily Telegraph

Economic week ahead

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How serious is the global slump sapping the life from industry and potentiall­y the wider economy?

We get a first glimpse on Thursday with IHS Markit’s PMIS, the surveys of businesses. Analysts expect a modest further slowdown in the eurozone and the US in August.

Tomorrow’s manufactur­ing numbers from the CBI will indicate whether or not the UK has managed any form of rebound from its contractio­n in the second quarter of the year.

The effect of this slowdown on the public finances will be revealed on Wednesday.

Analysts anticipate a budget surplus of £3.7bn for July, bigger than the £2.7bn in the same month a year earlier.

July is typically a big month for tax receipts, so it does not mean the deficit has been abolished for the entire year, however.

Thursday’s migration numbers for the opening months of the year will show if the approach of Brexit made a difference to those moving to and from the UK.

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