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The week beginning August 28 is packed with important national and global macroeconomic events that could have an impact on trading on Dalal Street.
In the coming week, India’s Q1 GDP, fiscal deficit and infrastructure sector output, both for the month of July (all data to be released on Aug 31) are important numbers to track. In the upcoming week, there will also be seven new initial public offerings (IPOs) – three main boards and one from the small and medium enterprises (SME) segment – that will be open for subscription. And, three main board IPOs and one from the SME segment are set to close for subscription. Three stocks are set to hit Dalal Street – one on the BSE SME platform and two on the NSE SME platform.
On the global front in the next week, GDP numbers will be out from the US for Q2 (Aug 29). In addition, Manufacturing purchasing managers indices (PMI) data, indicators of economic trends, for August will be out from the US, the UK, Japan, China and the Eurozone. Also, the latest unemployment reports from Japan (Aug 28), and the US (Sep 1) are significant.
Let’s take a look at the key economic data releases in the upcoming week:
August 28
Japan Unemployment Rate July
Japan’s unemployment rate fell to 2.5 percent in June from 2.6 percent in May. The jobs-to-applications ratio ticked lower to 1.30 in June from 1.31 in May. The figure indicates there were 130 job openings for every 100 job seekers. The number of unemployed people dropped 40,000 from the previous month to 1.73 million. The number of employed people rose by 260,000 in June from a year earlier to 67.85 million.
August 29
US GDP Q2
According to the advance estimate, the US real gross domestic product (GDP), a comprehensive measure of economic activity, increased at an annual rate of 2.4 percent in the second quarter of 2023. In the first quarter, real GDP increased by 2.0 percent.
August 30
China Manufacturing PMI August
China’s official manufacturing purchasing managers’ index (PMI) rose to 49.3 in July, up from 49 in June, but remained in contraction for a fourth straight month. The 50-mark separates growth from contraction on a monthly basis.
August 31
India GDP Q1
Gross Domestic Product (GDP) growth rate rose for the first time in three quarters to 6.1 percent in January-March. At 6.1 percent, the Q4 growth number is significantly higher than expectations of 5.1 percent.
India Infrastructure Output July
Production in eight key infrastructure sectors – coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas – recorded a growth rate of 8.2 percent in June, the highest in five months, as against 5.0 percent in May this year. In June 2022, core sector growth was 13.1 percent.
India Fiscal Deficit July
The Union government’s fiscal deficit for the first three months (April-June) of FY2023-24 increased to Rs 4.51 lakh crore. The fiscal deficit was up 28.3 percent YoY in April-June and 62.9 percent in June. At Rs 4.51 lakh crore, the fiscal deficit for the first three months of the current FY accounts for 25.3 percent of the full-year target of Rs 17.87 lakh crore.
US Initial Jobless claims
The number of Americans filing new claims for unemployment benefits decreased for a second straight week, falling by 10,000 to 230,000 for the week ended August 19. In the previous week, initial Jobless claims amounted to 240,000.
Japan Manufacturing PMI August
Japan’s factory activity in the private sector shrank for a third straight month in August. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) edged up to a seasonally adjusted 49.7 in August from 49.6 in July. The index remained below the 50.0 index point threshold, which separates contraction from expansion.
Caixin Manufacturing PMI August
Manufacturing conditions in China moderated slightly in July. The headline seasonally adjusted Purchasing Managers’ Index (PMI) – an indicator of operating conditions in the manufacturing economy – fell from 50.5 in June to 49.2 in July.
September 1
India S&P Global Manufacturing PMI August
The seasonally adjusted S&P Global India Manufacturing PMI posted 57.7 in July, broadly in line with the reading of 57.8 in June.
Eurozone Manufacturing PMI August
Eurozone’s manufacturing PMI fell for 6th consecutive month in July 2023, dipping to a low of 42.7 in July down from 43.4 in June, the steepest downturn since May 2020, according to S&P Global. The flash manufacturing PMI was 43.7 in August.
UK Manufacturing PMI August
UK’s manufacturing sector faced a significant downturn in July. The PMI fell to its lowest level since May 2020 at 45.3. The flash manufacturing PMI was 42.5 in August.
US Unemployment Rate August
The unemployment rate fell to 3.5 percent in July from 3.6 percent in June. The number of unemployed persons stood at 5.8 million in July. The economy added 187,000 jobs in July.
US Manufacturing PMI August
The seasonally adjusted S&P Global US Manufacturing PMI posted 49.0 in July, up from 46.3 in June. The flash S&P Global US Manufacturing PMI fell to 47 in August 2023 from 49 in July.
IPOs and Listings
In the upcoming week, there will also be seven new initial public offerings (IPOs) – three main boards and one from the small and medium enterprises (SME) segment – that will be open for subscription. And, three main board IPOs and one from the SME segment are set to close for subscription. Three stocks are set to hit Dalal Street – one on the BSE SME platform and two on the NSE SME platform. Read details about the IPOs of Mono Pharmacare, Vishnu Prakash R Punglia, Sahaj Fashions, Basilic Fly Studio, CPS Shapers, Rishabh Instruments, and also stock listings of Bondada Engineering, Sungarner Energies and Crop Life Science.
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