MNI Global Morning Briefing

     LONDON (MNI) - Monday sees a slow start to the week, giving markets a

chance to take a breather after the heavy data calendar at the back end of last

week.

     The calendar starts at 0630GMT when France releases their BoF Business

survey for the month of August. In July, the manufacturing and services

sentiment index stood at 101 and 102 respectively.

     Next up at 0830GMT is the UK monthly short-term indicators which include

trade, construction, index of production, index of services and the monthly GDP

rate as well as the rolling three month growth rate. This is all for the month

of July.

     GDP in June rose by 0.4% on a 3m/3m basis and 0.1% m/m. The 0.4% q/q rise

was primarily driven from a strong showing in services on a 3m/3m basis at 0.5%,

but interestingly June saw flat m/m growth as the World Cup and weather drove

consumers away from the high street. Construction is likely to have moved back

after order backlogs artificially facilitated June's growth of 1.4% m/m and 2.2%

y/y. Industrial production has been on a bad run leading to it technically being

in recession in June after two quarters of negative q/q growth. The previous

trade balance for the month of June was a deficit of stg 2.9 bn.

     Next up at 1530GMT, Atlanta Federal Reserve Bank president Raphael Bostic

speaks in Albany, Georgia.

     The only piece of data from the US for Monday is at 1900GMT with month over

month consumer credit for the month of July. June's previous month over month

reading was USD 10.2bn.

     Moving to the evening at 2245GMT is electronic card transactions in New

Zealand.

     Australia closes out Monday's calendar with the ANZ-RM consumer confidence

at 2330GMT and business confidence indicator at 0130GMT. The previous business

confidence and conditions index readings for July were 7 and 12 respectively.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com