The flash estimate showed GDP growth of 0.7% q/q, which is in line with expectations corresponding to 3.0% y/y. Today’s numbers should be market neutral.
The UK economy continued to show strong momentum in Q3. The flash estimate showed GDP growth of 0.7% q/q, which is in line with expectations (Nordea and Consensus: 0.7% q/q), corresponding to 3.0% y/y.
Despite the recent lower-than-expected inflation numbers and significant fall in oil prices, continued strong growth momentum should support expectations that the BoE is most likely to hike its Base rate for the first time around the middle of next year.
Today’s numbers should be market neutral.
Nordea