Did the UK Economy Grow in Q3?
The main data highlight in the UK this week is provided by the preliminary Q3 gdp figures on Friday. The expectation is that the economy returned to growth for the first time since the first quarter of 2008, confirming the end of the recession. However, recent weak data, notably August industrial production (-2.5% m/m), suggest expansion, if any, is likely to have been very modest. With speculation rising about whether the MPC will increase its Asset Purchase Facility (APF) next month, there will also be considerable interest in the minutes of the MPC meeting held earlier this month, the latest money supply data and the BoE’s Trends in Lending report this week. The focus in the US will be on the housing market this week, where signs of stabilisation have emerged in recent months. It is also a busy week for Fed speakers, including chairman Bernanke taking to the stage this afternoon and on Friday. A quiet start to the week for euro zone data culminates in a flurry of key economic figure
