Analysts at TD Securities point out that today, UK’s monthly GDP for November is released, and they are looking for an outright decline of 0.2% m/m, suggesting significant downside risks to the market’s expectation for 0.1%.
Key Quotes
“This comes despite a healthy gain in retail sales we saw that month. We expect both services and IP/manufacturing to be a drag on output in the month, while construction activity should help somewhat mitigate the decline.”
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