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13 Mar 2015
RBS estimate UK GDP growth in Q1 - RBS
FXStreet (Guatemala) - Analysts at RBS explained that the official UK construction and industrial output data for January have been weaker than expected, prompting their GDP Tracker to signal economic growth of 0.5% q/q in Q1.
Key Quotes:
"Business surveys have been a little firmer and there remains scope for some upward revisions to the official data. Although a 0.5% pace of expansion would match that of Q4, it would nevertheless be a little disappointing given that growth in the final quarter of last year came in below expectations (0.6%) and BoE and City consensus forecasts are for a pick-up to 0.6% in Q1."
"The UK economy continues to perform reasonably well – certainly vs the euro area – but we remain of the view that the risks for 2015 as a whole are for an undershoot of the 2.7% consensus."
"The preliminary estimate of Q1 2015 GDP will be published on 28 April 2015."
Key Quotes:
"Business surveys have been a little firmer and there remains scope for some upward revisions to the official data. Although a 0.5% pace of expansion would match that of Q4, it would nevertheless be a little disappointing given that growth in the final quarter of last year came in below expectations (0.6%) and BoE and City consensus forecasts are for a pick-up to 0.6% in Q1."
"The UK economy continues to perform reasonably well – certainly vs the euro area – but we remain of the view that the risks for 2015 as a whole are for an undershoot of the 2.7% consensus."
"The preliminary estimate of Q1 2015 GDP will be published on 28 April 2015."