UK: Q3 growth in the limelight this week – RBC CM

Sandeep Kanihama FXStreet Contributor

Elsa Lignos, Senior Currency Strategist at RBC Capital Markets, suggests that this week sees the release of UK’s Q3 growth (the first quarter post referendum) which is likely to garner maximum investors’ attention.

Key Quotes

“After strong growth of 0.4% m/m in the service sector in July, we revised our forecast for Q3 GDP to 0.3% q/q, as this development also coincided with a decisive bounce back in the PMI surveys following the initial decline. At this early stage, there won’t be a breakdown of the expenditure components, so we will remain in the dark for another month about the extent to which business investment has been hit by post-referendum uncertainty.”

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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