11 Feb 2015
UK domestic growth to surprise on the upside – GS
FXStreet (Barcelona) - According to Goldman Sachs, UK GDP growth might surprise to the upside, expecting a 1%-1.5% boost in GDP over the next two years, aided by the decline in oil prices.
Key Quotes
“the declines in oil prices should be supportive for growth, both domestic and global, given that most large developed economies are net oil consumers, with the UK no exception.”
“Our Economists estimate the fall in oil prices in the past six months is likely to boost the level of UK GDP by 1%-1½% over two years.”
“Our belief in the importance of this effect is a key factor underlying our relatively optimistic views on UK growth; we expect growth of 3.0% in 2015 and 2016 versus consensus of 2.6% and 2.4%.”
Key Quotes
“the declines in oil prices should be supportive for growth, both domestic and global, given that most large developed economies are net oil consumers, with the UK no exception.”
“Our Economists estimate the fall in oil prices in the past six months is likely to boost the level of UK GDP by 1%-1½% over two years.”
“Our belief in the importance of this effect is a key factor underlying our relatively optimistic views on UK growth; we expect growth of 3.0% in 2015 and 2016 versus consensus of 2.6% and 2.4%.”