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2 Apr 2015
Slowdown in UK Q1 GDP growth? – RBS
FXStreet (Barcelona) - Ross Walker, Senior UK Economist at RBS, previews the UK services PMI release in the week ahead, and further anticipates that Q1 GDP might slowdown to 0.5%qoq.
Key Quotes
“With ONS services output falling unexpectedly in January (-0.2% m/m) the services PMI survey, which has been trending lower since mid-2014, will be watched for any further signs of moderating activity. We forecast a small rise in the PMI in March to 57.0.”
“With industrial and construction output having fallen in January the latest ONS figures, covering February, will provide greater clarity around Q1 GDP.”
“Our GDP Tracker is signalling a further modest slowdown in economic growth to 0.5% q/q in Q1 (following 0.6% in Q4, 0.7% in Q3 & 0.8% in Q2).”
Key Quotes
“With ONS services output falling unexpectedly in January (-0.2% m/m) the services PMI survey, which has been trending lower since mid-2014, will be watched for any further signs of moderating activity. We forecast a small rise in the PMI in March to 57.0.”
“With industrial and construction output having fallen in January the latest ONS figures, covering February, will provide greater clarity around Q1 GDP.”
“Our GDP Tracker is signalling a further modest slowdown in economic growth to 0.5% q/q in Q1 (following 0.6% in Q4, 0.7% in Q3 & 0.8% in Q2).”