Events to Look Out for Next Week

• Gross Domestic Product (GBP, GMT 07:00) –The UK economy was stronger than expected before Omicron hit. Monthly GDP data for November were a positive surprise, with a rise of 0.9% m/m that compensated somewhat for the disappointing October reading. The three months rate lifted to 1.1% from 0.9%, and while Omicron will have curtailed overall activity in December, the last quarter of the year doesn’t look quite as disappointing as previously feared. Higher energy prices remain the main driving factor for the spike in prices and the expected jump in the cost of living, which will likely slow GDP growth.
• Trade Balance (GBP, GMT 07:00) – The UK trade deficit is expected to have narrowed to 14.2 bln in December, from 11.34 bln in the previous month.

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Andria Pichidi

Market Analyst

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