UK GDP in volume terms was estimated to have increased by 0.4% between Quarter 2 (Apr to June) 2015 and Quarter 3 (July to Sept) 2015, revised down 0.1 percentage points from the second estimate of GDP published 27 November 2015. Analysts were predicting no change. Between 2013 and 2014, GDP in volume terms increased by 2.9%, unrevised from the previous estimate and remains in line with the pre-downturn (1997 to 2007) annual average of 3.0%. Between Quarter 3 2014 and Quarter 3 2015, GDP in volume terms increased by 2.1%, revised down 0.2 percentage points from the previously published estimate.
Thursday brought BBA Mortgage Approvals data from the UK. BBA Mortgage Approvals showed decline to 45,000 compared to last month's 45,500 and expectations on increase to 46,300. Richard Woolhouse, Chief Economist at the BBA, said: “These statistics show the continued strength of the mortgage market, with monthly new lending higher than at any time over the past seven years. Net lending to companies is now expanding, particularly in the wholesale and retail sectors, as businesses take advantage of record low interest rates.”
This week markets will be looking at:
Nationwide HPI (Wednesday 8:00)
