London Report: Economic data to show UK recovery on a steady course

ECONOMIC data due this week appears to show continuing steady growth in the UK’s economy, with little chance of an interest rate rise when the Bank of England announces its latest decision on Thursday.

Mortgage approvals data for July, due today, may have dipped slightly, but analysts expect this weakness to be temporary.

Meanwhile manufacturing and services results are both expected to show steady growth, albeit little changed from July.

Analysts do not expect a rate change from the Bank of England yet, but all eyes will be on the European Central Bank, which may cut rates this week.

The corporate calendar starts today with news from IMS Berkeley Group while Energy Assets and Redrow are due to report tomorrow. On Wednesday Ashtead, Hargreaves Lansdown, Mucklow, Safestore and Spirit Pub Company will update the market, while Thursday brings news from Betfair, Consort Medical, Go-Ahead, River and Mercantile and SuperGroup. EMIS reports on Friday.