Back
6 Feb 2015
UK industrial production might see a sizeable decline – RBS
FXStreet (Barcelona) - The Research Team at RBS previews the IP and construction output data to be released in the UK next week.
Key Quotes
“The preliminary Q4 GDP estimate implies a sizeable monthly decline in December in industrial output (-0.5% m/m) alongside a superficially enormous rise in construction output (c.4% m/m).”
“Revisions to back-data are always likely (these implied December outturns are based on an ONS survey with a response rate of just 30-50%), but we do not expect any significant revisions to Q4 outturns.”
“Looking through the monthly noise, the underlying position remains one of moderating activity in the UK economy at the tail-end of 2014.”
Key Quotes
“The preliminary Q4 GDP estimate implies a sizeable monthly decline in December in industrial output (-0.5% m/m) alongside a superficially enormous rise in construction output (c.4% m/m).”
“Revisions to back-data are always likely (these implied December outturns are based on an ONS survey with a response rate of just 30-50%), but we do not expect any significant revisions to Q4 outturns.”
“Looking through the monthly noise, the underlying position remains one of moderating activity in the UK economy at the tail-end of 2014.”