Analysts at TD Securities point out that the third print of UK’s 18Q2 GDP showed an unrevised gain of 0.4% q/q.
Key Quotes
“Notably, though, the business investment figures published today showed a second consecutive decline, with investment falling 0.7% q/q. It’s likely that Brexit uncertainty is weighing on firms’ spending plans, but if the transition period is agreed (our base case), then firms should be ready to release some of their pent-up spending, boosting growth in 2019 and supporting our view of two hikes next year.”
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