UK GDP ON TRACK TO SURPRISE BOE TO UPSIDE IN Q1 – TD SECURITIES
NEWS | 04/12/2024 12:52:20 GMT| By TradingPro Insights Team
Analysts at TradingPro Securities assess the latest Gross Domestic Product data from the UK.
QUARTERLY GDP ON TRACK TO SURPRISE THE MPC TO THE UPSIDE
« UK GDP rose 0.1% in February, following an upwardly revised 0.3% expansion in January. While both hospital and food services fell sharply, as expected, a notable 6.5% surge in “land transport services and transport services via pipelines” coupled with a 1.5% rise in telecommunications were enough to drive up services 0.1%. Moreover, a sharp 1.2% increase in manufacturing output also helped drive the upside surprise, largely on the back of transport equipment, which rose by 3.7%. »
« Overall, the better than projected increase in February together with a 0.1ppts upside revision to the January data leaves quarterly GDP on track to surprise the MPC to the upside in Q1. »
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