UK: Downside risks for industrial production and expect a print closer to -0.4% - TDS

Research Team at TDS, suggests that while markets are looking for a +0.1% for UK’s June industrial production we see downside risks, and expect a print closer to -0.4%. 

Key Quotes

“This would be notably weaker than the ONS’s +0.2% assumption in the Q2 GDP report, and could lead to a downward revision to growth that quarter. Note that most of the month’s data was collected prior to the June 23rd referendum.

The trade balance figures for June are also out, and consensus is looking for a deterioration to -£10.0bn in the visible trade balance.”