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UK: Second estimate of Q3 GDP to be the key event of the week – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at Danske Bank, suggests that in the UK, the main release this week is the second estimate of GDP growth in Q3 due out on Friday.

    Key Quotes

    “Data has been more or less in line with the assumptions behind the calculations of the first estimate. Thus, we expect the second estimate to show growth of 0.5% q/q as in the first release.”

    “Unlike the first release, we will get details on the expenditure subcomponents, which we expect to show that growth was mainly driven by domestic demand, especially private consumption.”

    “Due out on Friday also is GfK consumer confidence, which we expect to show an increase to 3 in November from 2 in October. Consumer optimism is high and is one of the reasons why we expect private consumption to be the main growth engine going forward.”
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