UK: Focus on GDP data – Danske Bank

Danske Bank analysts suggest that as news about Brexit remains limited ahead of the Conservative Party leadership contest concluding on 22 July, focus for once reverts to UK economic data.

Key Quotes

“Today we will get more clarity on where growth in Q2 19 will arrive with the monthly GDP estimate for May. After a strong start to the year helped by pre-Brexit stockpiling, the manufacturing sector has struggled of late as PMIs have fallen back. Overall, we remain sceptic that the economy can maintain its 0.5% q/q growth momentum from Q1.”