Daily Economics Outlook: 1st September 2015

On a  busy day  for economic data, the manufacturing PMI outturns for August  may shed some light on the impact of the recent bout of market volatility and renewed concerns about global growth on business sentiment. 

"Our own Business Confidence Barometer, whose survey dates spanned the Renminbi devaluation, suggested that market jitters have fed through  to business confidence. Nonetheless, the UK PMI and US ISM indices are expected to edge up on the month, while the final August German and Euro area PMIs are not anticipated to deviate from their firmer preliminary values", states Lloyds Bank.

Several members of the FOMC have recently emphasised the importance of US data releases in the run-up the September 17 policy decision. Today's comments by Boston Fed President Rosengren on the economic outlook will be scrutinised for his take on the recent market turmoil and underlying resilience of the US economy. In any case, in addition to the manufacturing and services ISM surveys, this week will see several other important releases for the Committee to ruminate over, especially Friday's August employment report, says Lloyds Bank.