/UK AUG GDP (Released 0930 BST): MNI's......>

UK VIEW: /UK AUG GDP (Released 0930 BST): MNI's data team write that the UK's

August GDP is likely to be "humbled after July's strength." They write:

- Services could be exposed in August. ONS officials noted that the motor trade

has been volatile over the past six months, with the seasonal factors subject to

revision. As a result, it could see a moderation in August.

- Offsetting industrial production factors to determine growth. Temperature drop

in August following Jun-Jul heatwave may boost utilities output on a M/M basis.

- New order growth points to construction retraction. Total construction new

order growth declined 6.5% in Q2, hitting its lowest level since Q1 2013.

- Survey data suggests no manufacturing resurgence.

- Weak exports orders unlikely to help trade balance.

- Aug's 3m/3m growth rate is expected to remain unchanged however the m/m is

predicted to drop to 0.1%. 

- Should the MNI median be correct, the fall is stemming from the dominant

services tapering off and not offsetting weak growth in the other sectors as it

has done previously.