Free Trial

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

UK VIEW
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.

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.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });