UK: Q2 GDP to come in at 0.3% q/q - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TDS are looking for UK’s Q2 GDP to come in at 0.3% q/q, in line with consensus but below the BoE’s 0.4% q/q forecast from June.

Key Quotes

“Although we think that the risks here lie to the downside, especially as car registrations fell 25% q/q on tax changes. After a robust 2016H2, UK economic growth has switched into a lower gear, and is now growing more consistently below its potential rate. This should leave the BoE firmly on hold next week, even if there are still a couple of MPC dissenters who favour a rate hike, as there’s still too much uncertainty over how consumer spending is likely to hold up through the squeeze in real incomes.”

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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