UK: Weakness in GDP data – TD Securities

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities note that UK’s August GDP came in at -0.1% m/m, a touch weaker than consensus of flat.

Key Quotes

“Details show most of the downside coming from industrial production, while construction bounced a bit (+0.2%) and services were flat m/m.”

“Given the solid 0.4% growth rate in July, it would take a September reading of below -1.0% m/m in order to actually see Q3 GDP growth overall come in negative, so the odds of a technical recession in the UK for the Q2-Q3 period are quite low.”

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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