GDP Second Estimate (Q2 2019) Preview -.....>

UK DATA: GDP Second Estimate (Q2 2019) Preview - 09:30 BST

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- First Estimate: -0.2% q/q, 1.2% y/y 

- BBG Consensus: -0.2% q/q, 1.2% y/y; Prev (Q1): 0.5% q/q, 1.8% y/y 

- Final GDP is forecast to remain at the first estimate's level in Q2, showing

that the UK economy contracted between April and June

- According to the first estimate, service sector output provided the only

positive contribution to growth, while the production sector revealed the

largest downward contribution. 

- Fwd-looking survey evidence paints a downbeat picture for the coming months: 

- The PMIs remain subdued, with both the manufacturing and the service PMI

declining in Q3 

- The CBI survey indicates a weakening in the manuf sector in Q3, with output

and orders remaining in negative territory.

- Looking at retail sales figures, consumer spending was subdued in recent month

with the exception of June.