UK: Focus on GDP and Brexit voting today – TDS

Analysts at TD Securities point out that in the UK, PM Theresa May struck a deal with revised Brexit terms with Juncker but the new wording needs to pass the vote later tonight.

Key Quotes

“Ahead of the vote, monthly GDP is released, and we look for a very mild pick-up of 0.1% m/m in January GDP growth (mkt: +0.2%) after December's surprising and broad-based 0.4% m/m decline. This would bring the 3m/3m rate of GDP growth to just 0.1%, back near its early-2018 lows (which were the lowest since 2012), and threatening a negative 19Q1 print. We expect small gains in both construction and the service sector, with a small decline in manufacturing in the month.”