By Jon Sindreu
LONDON--Analysts expect official data due this coming week to
show the U.K. economy grew during the first quarter of the year at
a stronger pace than previously estimated.
Early estimates of Britain's gross domestic product showed the
economy expanded a disappointing 0.3% on the quarter, half the pace
of growth recorded in the final quarter of 2014. However,
economists are confident the Office for National Statistics will
raise this growth figure to 0.4% in its second revision of GDP,
scheduled for Thursday.
"We note that monthly data here for both industrial production
and construction were pushed higher for the first quarter, compared
with the assumptions used in the GDP report," analysts at Investec
Bank said in a research note.
The Bank of England is even more optimistic and revealed this
week it expects GDP growth for the first quarter to be revised up
to 0.5%.
Date GMT Indicator Period Forecast Previous
May 26 1000 CBI Distributive trades retail sales volume May n/a +12
May 26 1000 CBI Distributive trades expected sales Jun n/a +40
May 28 0830 BBA Mortgage approvals Apr n/a 38,751
May 28 0830 GDP growth 2nd estimate Q1 +0.4%QQ (8) +0.3%QQp/+0.6%QQ
May 28 0830 GDP growth 2nd estimate Q1 +2.5%YY (7) +2.4%YYp/+3.0%YY
May 28 0830 Index of services Mar n/a +0.3%MM
May 28 0830 Index of services Mar n/a +3.2%YY
May 28 0830 Index of services Mar n/a +0.7%3M
May 28 0830 Business investment first estimate Q1 n/a -0.9%QQ
May 28 0830 Business investment first estimate Q1 n/a +3.7%YY
May 28 2305 GfK Consumer confidence May +4 (5) +4
During the week Nationwide house price index May n/a +1.0%MM
During the week Nationwide house price index May n/a +5.2%YY
(Figures in parentheses refer to number of economists
surveyed.)
Write to Jon Sindreu at jon.sindreu@wsj.com