UK June GDP Forecast to Show No Growth by TD Securities

TD Securities strategists anticipate that the UK’s June GDP data will show a flat reading of 0.0% month-on-month, following a strong second quarter. They expect a reversal of May’s strength in professional services to offset solid retail sales, keeping the Index of Services flat. Modest industrial weakness is also set to drag on the headline figure.

The forecast signals that the rapid growth seen earlier in the quarter may be giving way to stagnation, pointing to potential headwinds for the British economy.