UK: Focus on second GDP estimate for Q2 – Danske Bank

In the UK, the second GDP estimate for Q2 is due for release and will be a key economic release, suggests the research team at Danske Bank.

Key Quotes

“The first estimate showed sluggish quarterly growth of 0.3%, driven primarily by the service sector, while construction and manufacturing dragged. However, there is speculation that the second estimate will revise the figure upwards, as we also observed sluggish growth of 0.2% in Q1 and the Bank of England had expected a figure of 0.4%. In the second estimate, we will also get data on the expenditure components and it will be interesting to see whether private consumption growth continues to remain low and investments in Q2 saw high growth (1.2% in Q1).”