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UK trade and industrial production data expected to be weak in July - TD Securities

FXStreet (Łódź) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities believes that the UK trade and industrial production data will come in on the weak side in July.

Key quotes

"We’ve noted in the past the degree to which manufacturing production has outperformed export growth over the last few quarter, and it now looks more likely that the gap will be closed by manufacturing slowing toward exports rather than exports accelerating to match IP."

"We look for manufacturing production to contract by -0.3% M/M in July, leaving Q3 starting out on fairly weak footing with production still lower than it was 3 months earlier."

"Markets are looking for the visible trade balance to narrow slightly from £9.4bn to £9.1bn and we think that the details could end up on the weak side given the lack of Eurozone demand through the middle of the year."

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