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UK GDP growth likely slowed to 0.5% in 3Q – Danske Bank

FXStreet (Delhi) – Research Team at Danske Bank, suggest that in the UK the first estimate of Q3 GDP growth is going to be released today in addition to the Euro area money supply figures and bank lending survey.

Key Quotes

“Based on the key economic figures for Q3 released so far (we only have 44% of all information), we estimate GDP growth slowed to 0.5% q/q in Q3 from 0.7% q/q in Q2. If right, this would, however, still be at trend growth.”

“Euro area money supply figures for September are also due for release and we expect a further improvement to 5.0% y/y. This should follow as the bank lending survey released last week showed a continued increase in demand for loans. For enterprises, the increase in demand for loans was due mainly to the general level of interest rates, as well as to increased needs for fixed investments. Late in the evening (CET) ECB's Coeure speaks in Mexico City.”

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