UK: Expect the second estimate for GDP to confirm slowdown to 0.3% q/q - Natixis

The research team at Natixis explains that in the United-Kingdom, they expect the second estimate for GDP to confirm slowdown to 0.3% q/q in Q1 from 0.7% in Q4.

Key Quotes

“We project that business investment continued to contract in Q1 (-1% after -0.9% in Q4), net exports were neutral on the quarter after having added 1.7pp in Q4, and private consumption has registered a slowdown to 0.4% in Q1 from 0.7% in Q4, as rising inflation and slowing momentum in pay growth have curbed household purchasing power.”