Great Britain Expects Positive Results For Its Economy
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The coming week is full of important reports. There will be economic results from Great Britain.
U.K. Average Earnings Index +Bonus
At the beginning of the new week, the first important report will be the report on earnings, including bonuses. The Average Earnings figure gives us a good indication of personal income growth during the given month. The change from month to month is expected to be 0.4 times higher than the last reading. The last reading was also positive, rising from 5.1% to 5.5%
This may mean that the earnings of the British have increased or they will receive more bonus.
Claimant Count Change
The jobless report will appear on the same day as your earnings report. The most recent reading was above 0 and this time this number is expected to drop from 6.3K to 4.2K.
It is expected that with the reduction of unemployed persons, the salary increased in the last period. The first reports are expected to be positive for the British economy.
Bank of England Governor Bailey Speaks
October 11 is full of important events and the next is Governor's speech Andrew Bailey, Bank of England (BOE). As head of the BOE's Monetary Policy Committee (MPC) which controls short term interest rates, Bailey has more influence over sterling's value than any other person.
He will wind twice this week. The next speech is on October 15th.
Traders will be watching these two speeches as they can have a significant impact on the currency (GBP) position and outline future monetary policy action which also affects the pound.
U.K. Gross Domestic Product (GDP) MoM
The next day, ie October 12, we are awaiting the results of the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health.
Over the last few months, the level of gross domestic product has been very diversified, once it was negative, and then it increased above zero. The current reading is projected to be 0.0%, down from the previous period (0.2%). This means a decline, but from an economic point of view, the monthly GDP reading suggests that the economy was not stagnating or growing.
Source: investing.com
There are no forecasts as to how the gross domestic product will change in a given month year on year.
U.K. Manufacturing Production MoM
The change in the total inflation-adjusted value of output produced by manufacturers report will published on October 12. Manufacturing accounts for approximately 80% of overall Industrial Production.
The last reading was positive as the indicator rose to 0.4%. Although it did not meet the expectations of forecasts, it was read above zero, which is a good sign for this sector, as the reading for June was the lowest in the year, at -1.6%. The expectations for the current result are up, with an increase of 0.1% expected.
If the result meets the expectations (0.2%) or is higher, it may mean that the production sector has once again improved and increased.
Source: investing.com
Summary
- 11.10.22 U.K. Average Earnings Index +Bonus
- 11.10.22 U.K. Claimant Count Change
- 11.10.22 Bank of England Governor Bailey Speaks
- 12.10.22 U.K. Gross Domestic Product (GDP) MoM
- 12.10.22 U.K. Manufacturing Production MoM
- 15.10.22 Bank of England Governor Bailey Speaks
Source: investing.com
