• Jackson Hole and G7 summit
• Flash PMI surveys for the US, Eurozone, Japan and Australia
• Meeting minutes from FOMC, RBA and RBI
• Japan trade and inflation update
• Special report on German recession risk

Increasing uncertainty over the outlook of US monetary policy and heightened fears of potential economic recessions rattled financial markets around the world, meaning that the Jackson Hole symposium and G7 summit next week will take on particular significance with investors seeking updated thinking from policymakers.

These multilateral meetings follow PMI surveys showing global growth remaining among the weakest seen over the past three years, with the worldwide outlook becoming increasingly gloomy. The week also sees important updates of forward-looking data which will be useful in assessing whether the global slowdown has persisted midway through the third quarter, thereby raising recession risks that would cue further central bank stimulus around the world. Flash August PMI numbers for the US, Eurozone, Australia and Japan are released. Our special report this week looks at the recession risks facing the German economy.

In the US, the Jackson Hole symposium and flash PMI data will take centre stage, but FOMC minutes for July's meeting that saw the first rate cut since 2008 will also be scrutinised for clarity on the future direction of US monetary policy.

With rising expectations of ECB stimulus, the account of July's policy meeting may give some signals about the scale of anticipated monetary support. August's flash PMI data will also be closely watched. The release of final inflation estimates is also likely to lend support to the case for greater monetary support.

In Asia, the PMI and trade data will be scoured for signs of trade war impact amid growing tensions between Japan and South Korea. Given the wave of monetary easing, Asian watchers will monitor Bank Indonesia's policy meeting as well as minutes from latest central bank meetings in Australia and India.

Download the report for the full content which includes:

Global overview

Key diary events

US week ahead

Europe week ahead

Asia Pacific week ahead

Special Reports

Europe: German recession risk revisited

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PMI commentary: Bernard Aw

Europe commentary: Ken Wattret

APAC commentary: Rajiv Biswas

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Purchasing Managers' Index™ (PMI™) data are compiled by IHS Markit for more than 40 economies worldwide. The monthly data are derived from surveys of senior executives at private sector companies, and are available only via subscription. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.

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