MNI BRIEF: China Retains Ample Policy Space In H2 – NDRC

MNI BRIEF: Caixin July Manufacturing PMI Falls Below 50

MNI: PBOC Net Drains CNY224.73 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1323 Thurs; -0.83% Y/Y

CHINA PBOC CONDUCTS CNY10.37 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1323 THURS VS 7.1346

Australia Jun Exports +1.7%; Imports +0.5%

MNI:AUSTRALIA JUN TRADE BALANCE A$+5589

July Export Growth Below Expectations, But Still Improvement On June

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GDP due for release at 7:00GMT

UK DATA
MNI (London)

The first print of Q4 GDP will be released at 7:00GMT, alongside the monthly GDP data for December and its constituents.

  • Consensus looks for Q4 GDP to have grown by +1.1% q/q in the prelim Q4 estimate, remaining in line with the Q3 print, with the service sector as the key contributor. Compared to Q4 2020, consensus is expecting a softening to +6.4% y/y, down from +6.8% y/y. However, extremely weak consumer sentiment in December -- when the Omicron Covid variant swept through the UK -- introduces a degree of downside risk to forecasts, as retail and vehicle sales both plunged in December.
  • The monthly GDP print is expected to be -0.5%M/M by consensus.
  • Analysts are also anticipating a slump in manufacturing growth, dipping to +0.2% m/m from +1.1% m/m in November 2021.The key downwards drivers here remain persistent supply bottlenecks and the Omicron Covid outbreak.
  • The impact on the pound and later on SONIA futures / gilts is likely to be limited. A weak print can be dismissed as being due to Omicron concerns while inflation is driving the need to hike, not a strong growth picture.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.