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3 Mar 2014
Flash: UK Q1 expecations? - RBS
FXStreet (Guatemala) - This week's UK data will be all about how well the UK economy weathered the flooding in February and should set the tone for Q1 GDP (our current first quarter estimate is 0.8% q/q).
Key Quotes
"Today's manufacturing PMI was broadly as expected, holding at a robust 56.9. Past form suggests the services PMI is the most sensitive to adverse weather and, with the surveys continuing to run some way above longer-run averages, some slippage this week looks likely. However, as with the manufacturing series, the underlying theme should be one of continued recovery".
Key Quotes
"Today's manufacturing PMI was broadly as expected, holding at a robust 56.9. Past form suggests the services PMI is the most sensitive to adverse weather and, with the surveys continuing to run some way above longer-run averages, some slippage this week looks likely. However, as with the manufacturing series, the underlying theme should be one of continued recovery".