UK: August trade and construction data awaited – Lloyds Bank

FXStreet (Delhi) – Jonathan Thomas, Senior Economist at Lloyds Bank, suggests that following somewhat tepid UK manufacturing output data for August, markets will be looking for this morning’s August construction and trade figures to provide some reassurance that the momentum of Q3 GDP has not slowed markedly from its 0.7% Q2 print.

Key Quotes

“July saw construction output unexpectedly tumble by 1.0% on the month following a 0.9% rise in June. Nonetheless, survey-based measures, including the PMI and BoE Agents’ scores, indicate that the near-term outlook remains moderately upbeat and we expect a 0.4% pickup on the month.”