UK data is really irrelevant - BBH
|Research Team at BBH, suggests that the UK data is really irrelevant but it offers a bit of a base case of how the UK was performing before the Brexit shock hit, even if some uncertainty bled into an already moderating economy.
Key Quotes
“Growth in Q1 is expected to be confirmed at 0.4% for a 2.0% year-over-year pace. The Q1 current account deficit is expected to have narrowed to GBP28 bln from nearly GBP33 bln in Q4 15. Is there not some chance that Brexit makes it more difficult (expensive) to finance? Will it worsen? The June manufacturing PMI is expected to be confirmed at 50.1, leaving it average Q2 more than a full index point below the Q1 average. However, sentiment has been worse than actual manufacturing output. Will the two converge now?”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.