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fxJul 15, 2026, 9:51 AM

TD Securities Sees Modest UK GDP Growth, Bailey Cautious

TD Securities forecasts UK GDP will rise 0.1% month-on-month in May, driven by services and retail sales, while manufacturing and industry face headwinds. BoE Governor Bailey remains cautious.

GBPUSD

TD Securities projects UK GDP to grow 0.1% month-on-month in May, supported by the services sector and strong retail sales. However, manufacturing and industrial output continue to face pressure from Middle East-related headwinds and higher input costs.

Bank of England Governor Andrew Bailey maintained a cautious stance, signaling no immediate shift in monetary policy despite the modest growth outlook. The combination of steady services data and persistent industrial headwinds keeps the economic picture mixed.

Source: FXStreet Forex News