27 Jan 2015
Data ahead: UK GDP expected to rise in line with consensus – Danske
FXStreet (Barcelona) - The Danske Bank Research Team previews the data releases ahead in the UK and US, expecting UK GDP to come out in line with consensus and US Markit PMI to show a slight recovery.
Key Quotes
“There's a number of tier-2 data on tap today. UK GDP for Q4 is expected to rise 0.6% q/q in line with consensus following an 0.7% q/q rise in Q3. It leaves the annual rise at 2.8%, a still solid pace of growth leading to a further tightening of the labour market.”
“In the US durable goods orders have been soft in the past months pointing to slower capex expenditure in Q4 following strong activity in the summer and autumn months. Orders are expected to have rebounded a bit in December with core orders (nondefence ex aircraft) rising 0.9% m/m after the November drop of 0.5% m/m.”
“US also releases preliminary Markit PMI for the service sector and the composite index. The service PMI has been quite weak towards the end of 2014 but is expected to have recovered slightly in January to 53.6 from 53.3.”
“Finally US consumer confidence from Conference Board is released. We see clear upside risk and expect a rise to 97.0 (consensus 95.0) from 92.6. The index has been trailing the consumer survey from University of Michigan, which has moved sharply higher in the past months.”
Key Quotes
“There's a number of tier-2 data on tap today. UK GDP for Q4 is expected to rise 0.6% q/q in line with consensus following an 0.7% q/q rise in Q3. It leaves the annual rise at 2.8%, a still solid pace of growth leading to a further tightening of the labour market.”
“In the US durable goods orders have been soft in the past months pointing to slower capex expenditure in Q4 following strong activity in the summer and autumn months. Orders are expected to have rebounded a bit in December with core orders (nondefence ex aircraft) rising 0.9% m/m after the November drop of 0.5% m/m.”
“US also releases preliminary Markit PMI for the service sector and the composite index. The service PMI has been quite weak towards the end of 2014 but is expected to have recovered slightly in January to 53.6 from 53.3.”
“Finally US consumer confidence from Conference Board is released. We see clear upside risk and expect a rise to 97.0 (consensus 95.0) from 92.6. The index has been trailing the consumer survey from University of Michigan, which has moved sharply higher in the past months.”