UK: GDP surprise - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities note that the UK’s monthly GDP in November rose by more than expected, increasing 0.2% m/m against consensus of 0.1% and their forecast of a negative print.

Key Quotes

“The surprise to our forecast came entirely from the Services sector, which rose 0.3% m/m, while industrial production and manufacturing both fell, disappointing market expectations. November was the 5th consecutive monthly decline for the UK manufacturing sector, which has now contracted in 8 of the last 10 months.”

“Despite the better-than-expected November GDP print, the 3-month rolling growth rate slipped to 0.3% 3m/3m, and points to continued deceleration in economic activity through the end of the year. An unchanged Dec GDP print would imply Q4 growth of 0.3% q/q.”

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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