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UK: Construction output and trade balance witness deterioration – TDS

FXStreet (Delhi) – Ned Rumpeltin, European Head of Currency Strategy at TD Securities, notes that the UK construction output fell sharply while trade balance also witness deterioration.

Key Quotes

“UK construction output fell sharply in August, dropping 4.3% m/m against our (+0.8%) and the market’s (1.0%) expectations for a moderate rise. This adds some downside risk for Q3 GDP, but construction data tends to be very volatile month-to-month. Separately, the UK’s trade balance also saw a sharp deterioration during August, adding to the economy’s recent headwinds.”

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