{"id":546281,"date":"2026-07-17T16:13:34","date_gmt":"2026-07-17T16:13:34","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/546281\/"},"modified":"2026-07-17T16:13:34","modified_gmt":"2026-07-17T16:13:34","slug":"british-pound-uk-gdp-resilience-with-q2-risks-td-securities","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/546281\/","title":{"rendered":"British Pound: UK GDP resilience with Q2 risks \u2013 TD Securities"},"content":{"rendered":"<p>TD Securities reports United Kingdom (UK) Gross Domestic Product (GDP) grew 0.1% month-on-month in May, matching their forecast and beating the market\u2019s flat expectation. Three\u2011month growth remains strong at 0.7%, with services and manufacturing outperforming. However, construction dragged and they see Q2 GDP tracking 0.2% quarter-on-quarter, warning residual seasonality likely overstates first-half data, implying underlying growth may be closer to zero.<\/p>\n<p>Growth solid but may be overstated<\/p>\n<p>&#8220;GDP growth came out in line with our forecast of +0.1% m\/m in May (mkt: 0.0%), following the small negative print in April.&#8221;<\/p>\n<p>&#8220;It leaves 3m\/3m GDP, the ONS&#8217; preferred measure, running at a still-strong 0.7%.&#8221;<\/p>\n<p>&#8220;Details of the report were constructive, with both services and manufacturing out-pacing expectations in May.&#8221;<\/p>\n<p>&#8220;This leaves <a href=\"https:\/\/www.fxstreet.com\/economic-calendar\" data-fxs-autoanchor=\"\" rel=\"nofollow noopener\" target=\"_blank\">GDP<\/a> growth on track for a 0.2% q\/q gain in the second quarter, a notable slowdown from 0.6% in Q1.&#8221;<\/p>\n<p>&#8220;If this bias persists, it suggests that true underlying Q2 growth is closer to zero.&#8221;<\/p>\n<p>(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. <a href=\"https:\/\/www.fxstreet.com\/info\/how-fxstreet-uses-ai?utm_medium=internal&amp;utm_source=ai-disclaimer\" rel=\"nofollow noopener\" target=\"_blank\">Know more.<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"TD Securities reports United Kingdom (UK) Gross Domestic Product (GDP) grew 0.1% month-on-month in May, matching their forecast&hellip;\n","protected":false},"author":2,"featured_media":520056,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-546281","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/546281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=546281"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/546281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/520056"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=546281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=546281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=546281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}