28 Apr 2016
Is the UK pausing for thought? - Investec
Research Team at Investec, notes that the first estimates of UK GDP showed 0.4% growth on the quarter, in line with consensus and Investec forecasts.
Key Quotes
“In year-on-year terms, growth was 2.1% up. At the first reading we get very little in the way of details, save sectoral estimates, which we usually have a reasonable clue about in any case given the availability of some monthly data. These showed services output growing by +0.6% q/q, manufacturing by -0.4% and by construction -0.9%. In short, on expectation, and after some minor weakness the Pound settled in the 1.45 handle on the day.”
Key Quotes
“In year-on-year terms, growth was 2.1% up. At the first reading we get very little in the way of details, save sectoral estimates, which we usually have a reasonable clue about in any case given the availability of some monthly data. These showed services output growing by +0.6% q/q, manufacturing by -0.4% and by construction -0.9%. In short, on expectation, and after some minor weakness the Pound settled in the 1.45 handle on the day.”