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