– Daily Commentary BY THE CURVE TEAM –
Daily Insights – Capex Resilient
27th of August, 2021
Capex remained resilient ahead of latest round of lockdowns
- Capital expenditure for the second quarter rose 4.4% against expectations of a 2.6% rise
- Building and Structures expenditure was up 4.6% with Equipment, Plant and Machinery up 4.3%
- Estimated Capex for 2021-22 rose 12.5% from the previous quarters estimate.
- These estimates could be subject to significant revisions due to current lockdown restrictions
Retail sales
- Retail sales for July are set for release today with a fall of 2.5% expected.
Jackson Hole
- The US Federal Reserve will meet for the annual symposium at Jackson Hole tonight where the market is hanging on any update for the plan to taper QE