UK: First estimate of Q3 GDP growth is the major release today – Danske Bank

Research Team at Danske Bank, suggests that in the UK, there is only one major release today - the first estimate of GDP growth in Q3.

Key Quotes

“Economic data in Q3 has been much better than we feared and expected. We look for GDP growth in the range 0.25-0.50% q/q, with 0.4% being our point estimate (2.2% y/y), driven mainly by services. This is slower than before the EU vote but still a solid growth rate from a global perspective.

Financial markets will keep an eye out for news from the run-up to the expected start of negotiations next year over the UK's withdrawal from the EU.

The oil market has started to question a forthcoming OPEC deal to cut output which has led oil prices to drop back. The oil market will therefore monitor any comments from OPEC trying to revive speculation over a deal.”