Today, in the US, the Fed's Beige book is due to be released.
In the euro area today, the German industrial production figures for July are due to be released. German industrial production is especially important following the Brexit vote due to the size of the German manufacturing sector. The industrial production figures for June showed strength and we estimate July figures followed a similar trend and confirm the economic resilience.
In the UK, focus today will be on the first hard post-Brexit data as industrial production for July is due out. We would also look out for the NIESR GDP estimate for August, as it is usually a good predicator of actual GDP growth. In addition, the Bank of England's Mark Carney, Jon Cunliffe, Kristin Forbes and Ian McCafferty are due to participate in a hearing of the Parliament's Treasury Committee.
Today, focus in Sweden will be on the Riksbank's monetary policy decision (09:30 CEST), where our point estimate is for no change. In Norway, we estimate that industrial production for July, which is also due to be released today, climbed 1.5% m/m.
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