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The Week Ahead: Singapore Banks Back In Focus

America will report the second estimate for growth in the second quarter. In the first estimate, the US economy is reckoned to have grown 4.1% between April and June. It was the strongest growth rate since the third quarter of 2014.

China has some closely-watched purchasing-managers’ indices for August to report. Manufacturing is expected to have expanded, while non-manufacturing could have grown, but at a slower pace.

The European Union will report flash inflation numbers for August. In July, the rate of inflation was 2.1%, which was the highest since December. But prices are expected to have slipped back to the June level of 2% in August.

Confidence amongst UK consumers is expected to have worsened in August. In July, the GfK confidence index fall to -10, when the expecting it to be -9. But in August, it slipped to -13, which means that households were less inclined to make major purchases.

And finally, the market will get a look at the health of bank lending in Singapore for July. In June, bank loans reached a record of S$673.3 billion. Lending to businesses rose from S$403 billion to S$408 billion, whilst consumer loans edged up from S$264.9 billion to S$265.3 billion. Singapore’s three listed banks, DBS Group (SGX: D05), Oversea-Chinese Banking Corporation (SGX: O39) and United Overseas Bank (SGX: U11) could be in focus.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo owns shares in DBS, OCBC and UOB.