Forex Flash: UK 1Q GDP to rise +0.1% - RBS

FXstreet.com (Barcelona) - Following a -0.3% in last UK 4Q preliminary GDP y/y, RBS expects next April 25 UK GDP will show a small advance: “The UK economy is hardly sprinting out of the blocks at the start of 2013 but modest expansion seems more likely than contraction,” says analyst at RBS Ross Walker, adding: “thus avoiding a symbolic ‘triple-dip’ recession.”

From RBS: “Our GDP Tracker signals +0.1% q/q, +0.3% y/y, in Q1 2013 and for 2013 as a whole we look for economic growth of 0.7%, better than the expected contraction in the euro area but some way behind the US,” the analyst concludes.