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5 Sep 2014
UK IP and construction data to hint at steady Q3 GDP growth - RBS
FXStreet (Łódź) - Ross Walker, Senior UK Economist at RBS remarks that the UK industrial production and construction data, due out next week, will provide more information on the possible Q3 GDP outcome.
Key quotes
"Underlying trends and survey data suggest a steady pace of economic expansion in Q3."
"Although modest downside risks are becoming more evident, July is probably a little too early for any significant euro area contagion to affect output."
"We forecast growth of 0.2% m/m in IP and 0.7% m/m in construction."
"These early data, together with this week’s variable PMI surveys, would be consistent with Q3 GDP growth of 0.7%-0.8% q/q in Q3 (vs 0.8% q/q in both Q1 and Q2)."
Key quotes
"Underlying trends and survey data suggest a steady pace of economic expansion in Q3."
"Although modest downside risks are becoming more evident, July is probably a little too early for any significant euro area contagion to affect output."
"We forecast growth of 0.2% m/m in IP and 0.7% m/m in construction."
"These early data, together with this week’s variable PMI surveys, would be consistent with Q3 GDP growth of 0.7%-0.8% q/q in Q3 (vs 0.8% q/q in both Q1 and Q2)."