The business week ahead: July 12 2010

INFLATION and unemployment figures and the annual meetings of British Airways and Marks & Spencer should make up for a quiet results schedule this week.

Experts will take the latest temperature of the fragile UK economy this week as a flurry of data begins today with the delayed second revision of official growth estimates for the first quarter of 2010.

The Office for National Statistics embarrassingly put back the release two weeks ago after spotting “potential errors” in the data, which most economists expect to show GDP growth unchanged at 0.3% for the first three months of the year, down from 0.4% in the previous quarter.

While the pace of growth should accelerate in the second quarter, many experts are eyeing the impact of the savage emergency Budget during the remainder of 2010, with the National Institute of Economic and Social Research (NIESR) saying there is “clearly a risk” growth will falter.

THE following events are scheduled to take place next week:

July 12

Interims: Domino’s Pizza UK & Ireland

Bank of England housing equity withdrawal figures, Council of Mortgage Lenders breakdown of mortgage lending during May, second revision of GDP figures for Q1

July 13

Trading updates: Burberry, Dunelm, Northern Foods (AGM)

AGM: British Airways

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