UK: Strong 0.6% q/q print for 18Q3 - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities suggest that the UK activity data dump confirmed thier bearish view of UK economic growth, with a strong 0.6% q/q print for 18Q3 driven almost entirely by July activity and a rebound from a negative trade shock in 18Q2.

Key Quotes

“Monthly GDP dynamics point to a stagnant economy, with the economy stagnant at 0.0% m/m for both August and September, confirming our long-held view that activity has lost all momentum on Brexit uncertainty and the unwind of one-off factors during Q2. The business investment figures in particular reinforce a view of an uncertain spending climate, with the sector showing negative q/q growth rates for three consecutive quarters.”

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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