Markets await UK final estimate GDP Q1; NIESR predict revision up to 0.4 pct
June 29, 2010 3:49 AM EST
After marking down its estimate by 0.3 pct, US futures fell, whilst stocks performed weakly as evidence of a consumer spending 'hole' and widening trade deficit made for a worrying decline in GDP.
Gold futures, which is rising today, are providing a safe haven for investors worried over market unease, whilst the G-20 communique, which announced intention to cut fiscal deficits by halve to 2013, although 'each at his own pace' failed to have any impact.
Meanwhile, the UK's final revision of GDP is expected to be revised up according to Keith Bowman, equity analyst at Hargreaves Lansdown:
"The second estimate in late May was in line with economists estimates - revised from +0.2 percent to +0.3 percent following stronger than expected industrial production data."
"Looking ahead to the final estimate, the National Institute of Economic and Social Research expects growth to be revised up further to +0.4 percent, equaling that achieved in the fourth quarter of 2009." he added.
The Pound rose against the dollar meanwhile 1.507 after medium bullish sentiment drove the Cable (Pound) up against the Greenback (Dollar).
To contact the editor, e-mail:
Join the Conversation
- 5 Proofs Russia is Geared-Up for Shooting War with U.S. and Can Win Future Nuclear Showdown
- Target’s ‘Surprise Doorbusters’ Black Friday 2014 Deals On TV Sets, Entertainment Centres, DVD Players And More
- IKEA Black Friday 2014 Ad Includes Discounts On Home Furnishings, Appliances, Kitchen Designs, Beds, Sofas, Mattresses And Toys
- T-Mobile’s Black Friday 2014 Deals On Apple iPhone 6, Samsung Galaxy Note 4/Edge, Nexus 6, HTC One M8, LG G3, iPad Air 2 And Mini 3
- Black Friday And Cyber Monday Sale 2014: AT&T's Cricket Wireless Offers Discounts On Lumia 1320, Galaxy S5, S4 And HTC Desire 510
- ISIS Drug Transit From Afghanistan To Europe Confirmed By Russia: Money Goes Into Terror Funding And In New Recruitments
- ISIS Kidnaps Iraqi Defence Minister’s Family, Executes Female Parliament Candidates