Analysts at Nomura offer a brief preview of Friday’s key macroeconomic releases due on the cards at 0930 GMT.
“UK GDP: Based on our forecasts for flat industrial production, a small 0.1% rise in service sector output and a modest rebound in construction output, GDP would rise by 0.1% in September. That would in turn imply a 0.6% q-o-q growth rate for Q3. While it would take a material downside surprise to the monthly rate to yield something weaker than 0.6% q-o-q, only a small upside surprise could easily push growth up to 0.7% during the quarter relative to our 0.6% view.
UK Industrial Production: The manufacturing PMI and CBI surveys held up reasonably well in September before falling in October; however, car production (worth just 6½% of total industrial production and about 9% of manufacturing) was weak during September according to the SMMT (Society of Motor Manufacturers and Traders) figures. We forecast a flat manufacturing reading, but the risk is that weak auto production ends up dominating the figures.”
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.