FXStreet (Delhi) – Research Team at Danske Bank, suggests that in the UK, there are not many major releases due over coming weeks.
Key Quotes
“The most important releases are the PMIs for December. We expect PMI services to stay in the range 55-57 in coming months, suggesting that GDP growth in the UK will continue to be driven by the service sector. PMI manufacturing fell back in November following the large jump in October. Compared with the same index for the euro area, we think the UK index has found a reasonable level and believe it is unchanged in December at 52.7. Also PMI construction is due but notice that this is a bad indicator, as it has been signalling higher growth in construction output against what the actual ‘hard data’ tell us.
“The third estimate of GDP growth in Q3 is due on Wednesday. We do not expect any revisions of the quarterly growth rate of 0.5% q/q. The unit labour cost figures could attract some attention due to the Bank of England’s focus on wage pressure.”
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