UK GDP report for the first quarter! Today!
Dear traders,
At 11:30 Kiev time, Office of the National Statistic of Great Britain (ONS) will publish the final value of UK GDP for the first quarter of 2018.
It is expected that the UK’s economic growth for the first quarter will be confirmed by 0.1%. It is expected that the originally recorded GDP growth at an annual rate of 1.2% will also not be revised.
This will be the weakest indicator of the UK’s economic growth since mid-2012. The reason was the unusual coldness at the beginning of the year, as well as a reduction in household spending and a reduction in the growth of investment in business.
Despite this, the Bank of England left the doors open to raise interest rates at the next meeting in August. Officials of the central bank of Great Britain estimated that the slowdown in the economy in the first quarter was temporary and is associated with bad weather at the beginning of the year.
Also, the focus of investors will remain the political situation, when the UK leaves the EU less than a year, and the nature of future relations between Britain and the European Union hasn’t been determined yet. (Investing.com)
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