"monthly update" is correct and usable in written English.
It is a phrase often used in business contexts to refer to something that happens or is released on a regular monthly basis. For example, you could say "Our team releases a monthly update with the latest sales figures."
That has since been changed into a monthly update.
The monthly update should include profit and loss information.
According to the latest monthly update from the British Retail Consortium and Springboard, the number of shoppers heading into city centres, shopping malls and retail parks rose 1.2 per cent in January compared with the same month a year ago.
WASHINGTON — When President Obama descended into the White House Situation Room on Monday for his monthly update on Afghanistan and Pakistan, the new top American military commander, Gen. David H. Petraeus, ticked off signs of progress.
The signs of the housing revival are now widespread, with gains over the past year in home prices, sales, and construction starts for both single-family homes and apartment buildings (the Department of Housing and Urban Development provides a monthly update of housing information and administration policy efforts).
And later this week the State Investment Council is scheduled to meet to receive a monthly update on the status of New Jersey's pension funds, which began the budget year underfinanced by $28 billion and lost about $17 billion during 2008.
This report can include detailed financial information and be longer than the monthly updates.
It will give GPs monthly updates on how many of the drugs their surgery is prescribing.
The rest of the year, monthly updates on each manager's results must suffice.
The team will continue releasing monthly updates of both the average fuel economy of vehicles purchased and the index.
The husband-and-wife duo is travelling from Antarctica to Alaska, and has been posting monthly updates.
