9 Jun 2015
Europe Q1 GDP estimate unchanged, UK trade balance improves – TDS
FXStreet (Barcelona) - The TD Securities Team reviews the Eurozone GDP second estimate and UK trade balance data release.
Key Quotes
“The second reading of Eurozone GDP was unchanged from the initial estimate at 0.4% Q/Q in Q1. Details showed slightly weaker consumer spending but stronger government spending that markets had been looking for.”
“UK: The trade balance improved from -£10.7bn to -£8.6bn in April, a little better than the -£9.95bn reading that markets were looking for. The details showed nominal exports rising by 2.8% M/M and imports falling by –4.3%, with an even bigger gap between real exports and real imports, meaning that net trade is on track to add to Q2 GDP after being a fairly big drag in Q1.”
Key Quotes
“The second reading of Eurozone GDP was unchanged from the initial estimate at 0.4% Q/Q in Q1. Details showed slightly weaker consumer spending but stronger government spending that markets had been looking for.”
“UK: The trade balance improved from -£10.7bn to -£8.6bn in April, a little better than the -£9.95bn reading that markets were looking for. The details showed nominal exports rising by 2.8% M/M and imports falling by –4.3%, with an even bigger gap between real exports and real imports, meaning that net trade is on track to add to Q2 GDP after being a fairly big drag in Q1.”