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10 Apr 2015
UK manufacturing production might see a below consensus gain – TDS
FXStreet (Barcelona) - The TD Securities Team previews the UK manufacturing production data release and anticipate a slight 0.1% gain in February, below consensus expectations at 0.4%.
Key Quotes
“We look for a tiny rebound in manufacturing production in Feb of about +0.1% (mkt +0.4%), but not enough to make up for the -0.5% contraction in Jan. The story is similar for construction where we look for a 1.0% M/M gain in Feb (mkt 2.2%), making up only part of the -2.6% drop in Jan.”
“The economic data over the next month could have a larger than usual market impact, given the likely focus on the state of the economy through the election campaign.”
“While most forecasters have long been looking for growth to decelerate in 2015 after a very solid 2014, too drastic of a slowing could have an impact on voting intentions in May.”
Key Quotes
“We look for a tiny rebound in manufacturing production in Feb of about +0.1% (mkt +0.4%), but not enough to make up for the -0.5% contraction in Jan. The story is similar for construction where we look for a 1.0% M/M gain in Feb (mkt 2.2%), making up only part of the -2.6% drop in Jan.”
“The economic data over the next month could have a larger than usual market impact, given the likely focus on the state of the economy through the election campaign.”
“While most forecasters have long been looking for growth to decelerate in 2015 after a very solid 2014, too drastic of a slowing could have an impact on voting intentions in May.”