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Week Ahead (2/2)

UK
  • In terms of the data on Covid-19, cases have risen by two thirds over the past week (to levels exceeding those seen in November and closer to mid-December). However, hospitalisations have only picked up 25% in the past week with new admissions closer to mid-September levels and around 10% of the level seen when the third lockdown was announced. In terms of patients in hospital, the levels are around double the lows seen in May but still the lowest levels since the end of September outside of that.
  • Looking to the end of the week we will receive May monthly activity data (GDP, index of services, IP, trade, construction). This data will be closely watched and give the best indication of how the recovery has continued. Note that this is also the last monthly activity data update ahead of the Bank of England's August Monetary Policy Report and new forecasts.
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