A week for travel industry news

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Updates on the global economy

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Welcome (back) to the work week.

I am grateful that I had the opportunity to take a week off annual leave given the constraints of getting out of the house this year. The question for those working in the travel, tourism and hospitality industries is whether this process is going to be made easier and fast enough to avoid long-term scarring. This week we might get a little glimpse of that.

First, there are the airlines. Now is not a good time to be in the industry, as Qantas Airways and Air New Zealand will undoubtedly reveal when they release their quarterly and annual results respectively. The future does not look very bright either, given concerns about climate change.

But hope is everlasting within the sector. This week, the UK’s second largest airport, Gatwick, which itself is severely suffering, will launch its expansion campaign. He wants the government to support his plan to convert its second runway, currently used only in emergencies, into a permanent facility to add 55,000 additional flights per year.

Another indicator of the future will come with consumer confidence data, first from the EU, then for Germany, France and Norway, and quarterly estimates of gross domestic product for Germany and the United States. United. The UK government will (hopefully) help some clarity with an update to its overseas traffic light system.

How do you see the economic situation in the coming months? Email me at [email protected]

Companies

One group to celebrate this week is Hays, the recruiting firm that released its annual results on Thursday. The rebound in employment in the UK, its home market, has been a source of hope amid the gloom of Covid-19 not only for this group but for the economy in general, and expectations are high afterwards. that Hays reported a 39% increase in net fees in its fourth quarter. Attention will be focused on the cost of this business growth as consultants are paid on commission and hiring will be required to manage new contracts. During the pandemic, Hays reduced its cost base by 13%. The question now is whether he was able to make this stick.

Economic data

A key set of economic statistics released this week will be the IHS Markit Monthly Purchasing Managers Index, covering France, Germany, the Eurozone, Japan, the United Kingdom and the United States. Although not official data, the international nature of the PMI calculation makes it a useful tool for comparing the relative economic progress of these countries.

Finally, a take for a special Financial Times event this week. You can join FT’s correspondents and guests to discuss The Fall of Afghanistan: What’s Next? Register for a webinar for FT subscribers on Wednesday, August 25 at 3:30 p.m. CET / 2:30 p.m. BST / 9:30 a.m. EDT.

Main economic and corporate reports

Here’s a more comprehensive list of what to expect in terms of corporate reports and economic data this week.

On Monday

  • EU and European Commission shine a light on consumer confidence figures

  • France, euro zone, Germany, Japan, United Kingdom, United States: IHS Markit Composite Purchasing Managers’ Index (PMI) data

  • UK, CBI Monthly Industrial Trends Survey

  • United Kingdom, Office for National Statistics household income, expenditure and wealth data

Tuesday

  • Germany, Q2 GDP growth figures

  • United States, Department of Commerce, July Residential Sales Figures

  • Monthly Index of Investor Confidence in the United States and State Street

  • RESULTS: Best Buy Q2, Polyus Q2, PureTech H1, Wood H1

Wednesday

Thursday

  • Germany, monthly GfK consumer confidence survey

  • Nigeria, Q2 GDP figures

  • Russia, Inflation Outlook

  • UK, monthly automobile production figures from the Society of Motor Manufacturers and Traders

  • UK and Bank of England capital issuance data

  • United States, Bureau of Economic Analysis Q2 GDP estimate

  • United States, Initial jobless claims

  • RESULTS: Air New Zealand FY, Bouygues H1, Brunello Cucinelli Q2, CRH H1, Dell Technologies Q2, Hays FY, HP Q3, Polymetal International H1, TCS Group Q2

Friday

  • China, monthly real estate data in Hong Kong

  • France, National Institute of Statistics and Economic Studies, consumer confidence figures

  • Norway, Monthly consumer confidence figures

  • RESULTS: Lukoil Q2

Global events

Finally, here’s a look at other events and milestones this week.

On Monday

  • UK, deadline for all 16 and 17 year olds in England to be offered a first dose of a Covid-19 vaccine

  • 25th anniversary of bin Laden’s declaration of war on the United States

Tuesday

  • Japan, Tokyo 2020 Paralympic Games start

  • U.S. Vice President Kamala Harris kicks off Southeast Asia tour to strengthen U.S. regional leadership with visit to Singapore

  • United States, Kathy Hochul becomes first woman to lead New York State after Andrew Cuomo resigns

  • UN Security Council meeting to discuss Syria’s political and humanitarian issues

  • UN Human Rights Council to hold special session on Afghanistan

Wednesday

  • United Kingdom, the international Beatleweek festival begins in Liverpool

  • UN Security Council discusses Iraq mission and North Korea sanctions

Thursday

  • United Kingdom, result of the election of the new general secretary of Unite, the largest donor to the Labor party

  • UK overseas government traffic light system update

  • UK Home Office publishes immigration statistics

Friday

  • United States, Annual Jackson Hole Economic Symposium of Central Bankers. Downgraded last week to a one-day virtual event due to Covid-19 risks

  • Music festivals started in UK, Reading and Leeds. Both are exhausted.

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