UK: GDP likely to gain 0.5% in May - TDS

Analysts at TD Securities are looking for UK’s May GDP to post a 0.5% m/m gain (mkt 0.3%), reversing the -0.4% decline from April.

Key Quotes

“Much of the rebound comes from the auto sector, as scheduled shutdowns around the originally-scheduled Brexit date led to plummeting auto production in April. Overall the UK economy is still looking fairly weak, and we continue to expect negative growth overall for Q2.”

“Also today, the BoE's Tenreyro has a speaking appearance at 6:10pm BST.”