UK GDP and US CPI amongst market movers today – Danske Bank
|According to analysts at Danske Bank, in the UK, monthly GDP data for March is due out and hence will provide a full overview of GDP growth in Q1.
Key Quotes
“GDP growth was solid in January and February, so quarterly GDP growth was probably around 0.5% q/q. This is quite high, but growth was likely supported by companies making Brexit preparations. We expect GDP growth will slow again to around 0.2% q/q in the coming quarters.”
“In the US, we have CPI inflation for April. We expect CPI core rose +0.2% m/m in April, implying a small increase to 2.1% y/y from 2.0% y/y. The inflation data should not change the Fed being firmly on hold.”
“Markets will today scrutinise the Trump administration's decision to raise tariffs to 25% on about USD200bn of goods. Moody's has said that a full trade war could push the US economy into recession in 2020.”
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