UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.3% between Quarter 1 (Jan to Mar) and Quarter 2 (Apr to June) 2017, unrevised from the second estimate of GDP. Services provided the only positive contribution to growth in Quarter 2 2017, with the output measure of GDP unrevised at 0.3%. Despite some small downward revisions to quarter-on-quarter growth in 2016, between 2015 and 2016, UK GDP grew by 1.8%, unrevised from the previous estimate.
In the US session Revised Consumer Sentiment data was released. The consumer sentiment index, a survey of consumers by The University of Michigan, hit 95.1 in September in a final reading Friday, which was lower than expected. Economists polled by Reuters anticipated a reading of 95.3 for the month. In August the index returned to near peak levels recorded earlier in 2017, hitting 96.8 in the final recording in August. "The resilience of consumers has again been demonstrated as concerns about the impact of the hurricanes on the national economy have quickly faded," Richard Curtin, chief economist for the Surveys of Consumers, said in a statement on Friday.
From the UK, on Monday, Manufacturing PMI data will be released. No change is expected. In the US session Manufacturing PMI figures will be published. Analyst predict slight decrease.
Figures to watch:
Manufacturing PMI (Monday 10:30)
ISM Non-Manufacturing PMI (Monday 16:00)
