UK: Industrial production likely to print -0.1% m/m in September – RBC CM

Research Team at RBC Capital Markets, suggests that the UK’s main release will see IP data for September published and in the initial estimate of Q3 GDP growth, it was assumed by the ONS that IP would be -0.1% m/m in September, so that should be the cornerstone for market expectations.

Key Quotes

“This would be equivalent to 0.6% y/y. A reasonably large shock would be needed to influence the initial estimate of Q3 GDP, so in all likelihood we’ll have to wait for CPI data a week later for more interesting developments on the UK economic data calendar.”