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UK: PMI, GDP and Brexit – Danske Financial institution

In accordance with analysts from Danske Financial institution, within the UK, we’ve a busy calendar forward of us subsequent week that features Q3 GDP knowledge. 

Key Quotes: 

“On Monday, the PMI service index for October is due, which can give us extra perception into progress momentum at first of This fall. Whereas the Lloyds Enterprise Barometer suggests a pointy fall is on the playing cards, the DG ECFIN service confidence indicator says it in all probability remained unchanged. The latter is often a greater indicator however we expect the service index could have declined barely to 53.three, given the manufacturing index fell as properly.”

“On Friday, the primary full estimate of Q3 GDP progress is due out. Given robust base results, quarterly GDP progress might come out as excessive as zero.7% q/q, though our level estimate is zero.6%. This may in all probability not final, as a result of the bottom impact is momentary and as survey indicators have deteroriated.”

“By way of Brexit, nothing is scheduled for subsequent week, however because the Irish Prime Minister Leo Varadkar has indicated, we in all probability want extra progress within the negotiations very quickly if there’s to be a unprecedented EU summit on Brexit in mid-November.”

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