UK GDP estimate trimmed to 0.8% in Q2 2014 - RBS

By FXstreet.com | July 11, 2014 AAA

Ross Walker , Senior UK Economist at RBS forecasts that UK GDP is set to grow by 0.8% in the second quarter of the year.

Key quotes



"Our latest UK GDP Tracker estimate for Q2 – following ONS industry and construction output data for May – stands at 0.8% q/q, down from a preliminary estimate of 0.9% (published on 3 July)."



"Economic growth of 0.8% in Q2 would maintain the pace of expansion rather than mark an acceleration."



"There is not yet a market consensus forecast for the preliminary Q2 GDP release (on 25 July) but NIESR has published a 0.9% forecast and the BoE’s ‘Backcast’ projections also show 0.9%."



"Whilst a 0.8% q/q outturn would not fundamentally alter perceptions of the UK outlook, the latest data do challenge notions that the UK economy is accelerating."



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