UK growth story under scrutiny - BBH

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman examines the UK's growth 'story'.



Key Quotes



"The UK this week has reported softer-than-expected industrial and manufacturing output figures, easing in some house price indices, a wider trade deficit, and today an unexpected decline in construction output. It fell by 1.1% , whereas the market, encouraged by strong PMI readings, had forecast a 0.9% increase."



"This sector accounts for only 6% of GDP, but it is consistent the evidence suggesting that UK pace of growth is levelling off. Next week’s data, which includes inflation, employment and earnings."



"On balance, these are unlikely to encourage expectations of a rate hike this year. That said, dissents at the BOE are expected to begin either next month or September, in favour tighter policy."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: FOMC, GDP, Greece and Much More Ahead

  2. Forex News

    British Pound Likely to Rally Further, but Watch these Two Key Risks

  3. Forex News

    Strategy Video: Can We Still Trade Amid Central Banks, HFT, Exuberance

  4. Forex News

    UK Election Campaign unfolding neck and neck - TDS

  5. Forex News

    Key UK events next week; Manufacturing PMI - TDS

Trading Center