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UK: GDP likely to contract by 0.1% in November – TDS

Analysts at TD Securities are looking for UK’s November GDP to contract by -0.1% MoM (market 0.0%), making 4 months in a row with no real GDP growth.

Key Quotes

“The weakness will likely be led by weaker manufacturing activity, but other sectors like retail sales and construction will also likely struggle due to continued political uncertainty, as the UK election campaign kicked off.”

“The BoE won't put too much weight on this data though, and will be looking much more keenly at the January data when it starts to trickle out; that will be our first look at the post-election economic data, once political uncertainty has substantially receded. Although with the next potential Brexit cliff-edge just one year away, that may continue to weigh on the minds of businesses and consumers.”

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