UK: Weakness in GDP data – TDS

Sandeep Kanihama FXStreet Contributor

TD Securities analysis team notes that the UK GDP came in a bit weaker than expected at flat m/m in October, although it was a 'strong' zero at 0.040%.

Key Quotes

“The primary source of downside surprise seems to be the volatile construction sector, where activity declined -2.3% m/m (mkt -0.2%).”

“On the other hand, IP was roughly in line with consensus at 0.1% m/m, and the index of services was a touch stronger at 0.2% m/m. So overall this still leaves Q4 GDP tracking pretty close to the BoE's 0.2% q/q estimate, and the less volatile sectors of the economy didn't look too bad.”

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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