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It is a week filled with releases of flash Purchasing Managers’ Index (PMI) data as Germany and the United Kingdom will report theirs on Monday and the United States will follow on Tuesday. This week is also the finale of earnings season with some of the biggest companies due to report their earning being Inuit, NVIDIA, Peloton and HP. What else should investors look out for?


German, UK & US flash PMI

The German manufacturing and services sector shrunk in July as companies continued to be affected by inflation Germany’s PMI data for services fell to 49.2 in July from 52.4 one month prior. Data for the countries manufacturing index fell to 49.2 from 52.0. Analysts are forecasting flash services PMI to be at 51.2 and manufacturing PMI at 50.6.

In the UK, business activity in July posted its weakest rise in 17 months as the country’s manufacturing PMI fell to 52.8 from the previous month’s 53.7 high. This was the lowest reading since February 2021. The services PMI dropped to 53.3 in July from 54.3 in June.

US flash PMI data will be released on Tuesday. The country’s services PMI data fell to 47.3 in July from 52.7 in June – the sharpest fall in output since May 2020. US manufacturing PMI data fell for the first time since June 2020 in July 2022. Manufacturing PMI data fell to 52.2 in July from 53.0 in June.


The finale of earnings season

This is the finale of this quarter’s earnings season with some of the most prominent companies to report their earnings on Wednesday being NVIDIA (NVDA), Salesforce (CRM) and Snowflake (SNOW). On Thursday HP Inc. (HPQ) and Peloton (PTON) are due to report their earnings and don’t forget to look out for Intuit (INTU) on Tuesday and (JD) on Monday.


Preliminary US GDP

The US economy fell for the second straight quarter from April to June. US GDP fell 0.9% at an annualised rate for the period, this follows a 1.6% decline in the first quarter and worse than the analyst estimates for a gain of 0.3%.

A second straight negative GDP reading meets a long-held basic view of recession, analysts are pointing out, but officially, the National Bureau of Economic Research declares recessions and expansions, and is likely not to judge the period in question.

Preliminary data will be released on Thursday and will help analysts figure out where the economy is headed.

Earnings calendar


22.08 23.08 24.08 25.08 26.08 (JD) E



Palo Alto




Medtronic (MDT) PMO Intuit (INTU) AMC NVIDIA (NVDA) AMC Salesforce (CRM) E Snowflake (SNOW) AMC XPeng (XPEV) E HP Inc (HPQ) E Peloton (PTON) E


Economic calendar (BST)

Mon Aug 22 3:30am JPY Flash Manufacturing PMI

Tentative CNY Foreign Direct Investment ytd/y

10:15am EUR French Flash Services PMI

EUR French Flash Manufacturing PMI

10:30am EUR German Flash Manufacturing PMI

EUR German Flash Services PMI

11:00am EUR Flash Manufacturing PMI

EUR Flash Services PMI

11:30am GBP Flash Manufacturing PMI

GBP Flash Services PMI

Tentative EUR German Buba Monthly Report

3:30pm CAD NHPI m/m

Tue Aug 23 2:00am AUD Flash Manufacturing PMI

AUD Flash Services PMI

9:00am EUR German Final GDP q/q

1:00pm GBP CBI Industrial Order Expectations

4:45pm USD Flash Services PMI

USD Flash Manufacturing PMI

5:00pm EUR Consumer Confidence

USD Richmond Manufacturing Index

USD New Home Sales

5:30pm AUD CB Leading Index m/m

Wed Aug 24 11:00am EUR German ifo Business Climate

Tentative EUR German 10-y Bond Auction

3:30pm CAD Corporate Profits q/q

USD Core Durable Goods Orders m/m

USD Durable Goods Orders m/m

5:00pm USD Pending Home Sales m/m

5:30pm OIL Crude Oil Inventories

Thu Aug 25 1:45am NZD Retail Sales q/q

NZD Core Retail Sales q/q

2:50am JPY SPPI y/y

8:00am JPY BOJ Core CPI y/y

10:00am CHF KOF Economic Barometer

1:00pm GBP CBI Realized Sales

2:30pm EUR ECB Monetary Policy Meeting Accounts

3:30pm USD Prelim GDP q/q

USD Unemployment Claims

USD Prelim GDP Price Index q/q

4:00pm EUR Belgian NBB Business Climate

5:30pm Nat Gas Natural Gas Storage

Day 1 All Jackson Hole Symposium

Fri Aug 26 2:30am JPY Tokyo Core CPI y/y

9:00am EUR German GfK Consumer Climate

EUR German Import Prices m/m

9:45am EUR French Consumer Spending m/m

EUR French Prelim CPI m/m

11:00am EUR M3 Money Supply y/y

EUR Private Loans y/y

3:30pm USD Core PCE Price Index m/m

USD Goods Trade Balance

USD Personal Income m/m

USD Personal Spending m/m

USD Prelim Wholesale Inventories m/m

5:00pm USD Revised UoM Consumer Sentiment

USD Revised UoM Inflation Expectations

Day 2 All Jackson Hole Symposium

Sat Aug 27 Day 3 All Jackson Hole Symposium

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