German ZEW and UK employment in focus – Danske Bank

According to analysts at Danske Bank, it will be interesting to see whether German ZEW expectations show some signs of stabilisation in August, in line with other sentiment indicators such as Ifo and PMI lately.

Key Quotes

“The final July HICP figures for Germany, France and Spain are also on the agenda and will give insights into any possible revisions to Friday s final euro area print.”

“The UK labour market report for June is also due out. We estimate the unemployment rate (3M average) fell from 4.2% to 4.1%, while average weekly earnings have risen in quite a stable manner at 0.2% m/m in recent months and we believe the trend continued in June. This would leave the annual growth rate (3M average) unchanged at 2.7% y/y.”