{"id":852791,"date":"2026-08-12T17:10:14","date_gmt":"2026-08-12T17:10:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/852791\/"},"modified":"2026-08-12T17:10:14","modified_gmt":"2026-08-12T17:10:14","slug":"united-kingdom-resilience-tested-as-data-mixed-rabobank","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/852791\/","title":{"rendered":"United Kingdom: Resilience tested as data mixed \u2013 Rabobank"},"content":{"rendered":"

Rabobank’s Senior FX Strategist Jane Foley reviews recent United Kingdom (UK) data against Eurozone<\/a> performance. Foley notes Eurozone Q2 Gross Domestic Product (GDP) at 0.4% q\/q and a 0.7% UK upturn in the three months to May. However, UK monthly data show sectoral contractions and composite PMIs in May and June indicating weakness, leaving a confusing backdrop and wide GDP forecast dispersion ahead of the release.<\/p>\n

Mixed growth signals and confidence concerns<\/p>\n

“Despite the headwinds stemming from the (near) closure of the Strait of Hormuz, the first estimate of Eurozone Q2 GDP<\/a> registered a better than expected 0.4% q\/q.”<\/p>\n

“In the three months to May, the UK economy managed a 0.7% upturn, compared with the three months to February.”<\/p>\n

“However, while the monthly May data brought a better-than-expected growth rate of 0.1% m\/m, they demonstrate that despite a 0.3% m\/m rise in the services sector, both production and construction contracted.”<\/p>\n

“Moreover, UK composite PMI data for both May and June indicate contraction, perhaps highlighting the dent to confidence stemming from the Iran war.”<\/p>\n

“This confusing backdrop may explain the wide spread in economists\u2019 forecasts ahead of tomorrow\u2019s release.”<\/p>\n

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"Rabobank’s Senior FX Strategist Jane Foley reviews recent United Kingdom (UK) data against Eurozone performance. Foley notes Eurozone…\n","protected":false},"author":2,"featured_media":610477,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-852791","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/852791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=852791"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/852791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/610477"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=852791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=852791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=852791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}