Tuesday preview: UK construction, US manufacturing in focus

On a quiet day for company results, the focus of Tuesday's trading session is likely to be on economic data from the UK and US.The UK construction purchasing managers' index (PMI) for August is scheduled for release at 09:30 and is forecast to decline from 62.4 in July to 61.5. The reading follows an unexpected drop on Monday in the UK manufacturing PMI and comes ahead of the UK services PMI due out on Wednesday."All three figures have edged a little lower from the highs they were at earlier this year but that was to be expected," said market analyst Craig Erlam from Alpari UK."It's very difficult to sustain them at those levels for an extended period of time. As long as they stay well away from the 50 level that separates growth from contraction, there'll be nothing to worry about.Meanwhile, the widely-followed ISM US manufacturing index in the States is due out and is expected to follow in the footsteps of other global production data (China, Eurozone and UK) and show a slowdown in August. The index, due out at 15:00, is forecast to fall to 56.8 from 57.1 in July.US construction spending figures are also due out at 15:00 and are expected to show that spending increased 0.9% in July after a 1.8% fall in June.In corporate news, Tuesday will see the release of Redrow's annual results and all eyes will likely be on the outlook from the housebuilder given recent concerns about a cooling of the UK housing market.The consensus forecast is for earnings per share to have surged to 24.7p in the year ended 30 June, up 65% on the 15p registered previously."We will be focused mainly on the strength of the forward order book, progress with regard to land holdings in London and also the outlook for sales outlets which will be critical to the group meeting our volume expectations," said analysts at Numis Securities.Tuesday 2 SeptemberINTERIMSGlobaltrans Investment GDR (Reg S), Hydro International, Johnson Service Group, Smart Metering Systems, Total ProduceINTERNATIONAL ECONOMIC ANNOUNCEMENTSConstruction Spending (US) (15:00)ISM Manufacturing (US) (15:00)ISM Prices Paid (US) (15:00)Producer Price Index (EU) (10:00)Q4Kofax Limited (DI)GMSMarimedia (DI)FINALSAlumasc Group, CPL Resources, IMImobile , Kofax Limited (DI), Mattioli Woods, RedrowAGMSAberdeen New Dawn Investment Trust, Energy Assets Group, Lindsell Train Inv Trust, M&G High Income Inv Trust Income & Growth Units, ReNeuron GroupUK ECONOMIC ANNOUNCEMENTSPMI Composite (09:30)PMI Construction (09:30)FINAL DIVIDEND PAYMENT DATEAdvanced Computer Software Group, Iomart Group, Solid StateBC