UK: GDP estimate may be shaved slightly - BBH

Research Team at BBH, suggests that the UK will report updated estimates of Q2 GDP this week and there is a modest risk that the UK's estimate may be shaved slightly owing to somewhat weaker services spending.

Key Quotes

“The second estimate put UK growth at 0.6% on the quarter and 2.2% year-over-year.  Growth appears to have slowed here in Q3 to 0.3%-0.4%. 

Note that Corbyn handily turned back the challenge to his leadership of the Labour Party.  It represents the tightening grip of the fundamentalist wing of the party, which seemingly prefers principle to exercising power.  Prime Minister May has ruled out maneuvering to an early election, even though Labour seems unelectable.  However, the more she shifts away from Cameron's agenda, which did secure a parliamentary majority, realpolitik considerations could encourage her to reconsider.”