Today, we get a snapshot of how consumers and the services sector are holding up across developed markets.In developed economies these days, services account for a far bigger number of jobs than manufacturing, and so have a bigger impact on the health of consumers, and in turn, economic growth overall.
In the UK this morning, the latest reading on the services sector is expected to show that activity continued to expand in September, unlike the construction and manufacturing industries, which have struggled in recent months.
Similarly, in the US this afternoon, we get the latest reading from the ISM Non-Manufacturing Index, which also takes the temperature of the services sector.Activity has remained very strong in recent months, and this is seen as likely to continue for now.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Also, later this morning, we get news on eurozone retail sales for August.Annual sales growth is expected to weaken from the 2.2% rate seen in July, partly due to falling consumer confidence in the region.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
