UK: Expect GDP to be unrevised at 0.3%q/q – Lloyds Bank
|Today, UK data releases include the second estimate of Q1 GDP (Thu), which analysts at Lloyds Bank expect to be unrevised at 0.3%q/q, with overall growth expected to be weighed by slower consumer spending growth and a negative contribution from net trade.
Key Quotes
“It remains to be seen whether signals of firm export activity in business surveys will be reflected in the official figures in due course.”
“Subsequent outturns for industrial and construction output for the quarter have on aggregate disappointed relative to ONS assumptions. This release will also contain the first expenditure breakdown for the quarter. While consumer spending is likely to have been the main driver of growth in Q1, its contribution to growth is likely to be lower than in Q4 given the weakness of retail sales over the quarter. Meanwhile, net trade is expected to have been a drag on growth.”
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.