UK GDP sees downside risks with a decline of 0.3% m/m in April – TDS

The TD Securities (TDS) Analysts offer a brief preview of the UK monthly GDP report due on the cards later today at 0830 GMT.

Key Quotes:

“GBP  Post-Brexit deadline distortions could dominate April’s Monthly GDP report, and we look for downside risks with a decline of 0.3% m/m (mkt: -0.1%). Underlying details are likely to look weak, with declines in both the services and manufacturing sectors.

This sets 19Q2 up for a potentially-negative growth reading, as May looks unlikely to provide a rebound. BoE’s Michael Saunders delivers a speech at 6pm BST.”