GDP in Britain and the US (preliminary data)
Dear traders,
Today there will be preliminary GDP data on the States and the UK:
- 11:30 – the UK gross domestic product (q/q);
- 11:30 – the UK GDP (y/y);
- 15:30 – the US GDP (q/q).
What to expect:
At 11:30 (Kiev) will be published the report of the Office of the National Statistics of Great Britain (ONS) with preliminary data on the economic growth of the country for the fourth quarter.
It is projected that the UK’s economic growth for the fourth quarter will be 0.4% after a similar growth in the third quarter last year. On an annualized basis, the British economy is expected to grow at 1.4% in the fourth quarter, slightly below the 1.7% growth rate for the third quarter of 2017.
In November, the Bank of England raised interest rates for the first time in the last ten years, but said it plans a very gradual further growth, while the UK is preparing to withdraw from the EU.
In the US, preliminary data on the importance of economic growth for the fourth quarter will be published (the report will be released at 3:30 pm (Kyiv)).
According to analysts’ forecasts, this report will show a slowdown in inflation to 3.0% after a 3.2% value in the third quarter. If the value of GDP growth coincides with the forecasts of experts, it will be the third consecutive quarter where the growth of the US GDP will exceed 3%. Such a steady growth in the US economy has not been observed since 2005.
The next meeting of the Fed should be held on January 30, but analysts predict that the US central bank will not make any changes to its monetary policy. This meeting will be the last one under the leadership of Janet Yellen, who hands over the reins to Jerome Powell. Most economists predict that the Fed will raise the interest rate in March, its second increase will take place in June, and the third – in December.
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