UK: Eyes on Q2 GDP second estimate - Danske Bank

“In the UK, the calendar (next week) is thin in terms of data releases of interest”,  said analysts at Danske Bank. The key report will be the second estimate of Q2 GDP. 

Key Quotes: 

“We are looking forward to receiving the second GDP estimate for Q2, due for release on Thursday. The first estimate showed sluggish quarterly growth of 0.3%, driven primarily by the service sector, while construction and manufacturing dragged.”

“However, there is speculation that the second estimate will revise the figure upwards, as we also observed sluggish growth of 0.2% in Q1 and the Bank of England had expected a figure of 0.4%. In the second estimate, we also get data on the expenditure components and it will be interesting to see whether private consumption growth continues to remain low and investments in Q2 saw high growth (1.2% in Q1).”