Downside risks to UK construction output – TDS

FXStreet (Delhi) – Annette Beacher, Chief Asia-Pac Macro Strategist at TD Securities, expectes small downside risks to UK construction output, which we expect to rebound in August by 0.8% m/m (consensus: 1.0%), after a decline of 1.0% in July.

Key Quotes

“Momentum in this sector has faded quickly over the course of the last year, especially in the new housing construction component, but this shouldn’t be too concerning - the UK recovery is being driven by the services sector.”

“The UK trade balance is also out, with markets expecting the visible trade deficit to improve from £11bn in July to £9.9bn in August.”