UK: Disappointing Q2 GDP – TD Securities

Sandeep Kanihama FXStreet Contributor

According to analysts at TD Securities, UK’s Q2 GDP was disappointing, with the -0.2% q/q result softer than consensus of flat and TD’s -0.1% forecast.

Key Quotes

“The June GDP print was flat m/m, so not leaving any real momentum into Q3. Details show that there was a pretty chunky drag from inventories (-2.15ppts), which was something that we highlighted as an especially difficult component to forecast after the Q1 pre-Brexit inventory build.”

“We can probably expect that to bounce back substantially toward the end of Q3, as businesses begin to prepare once again for the next Brexit deadline.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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