UK data and Brexit, still lots to be clarified - Scotiabank

Analysts at Scotiabank explained that the UK data were mixed.

Key Quotes:

"New car registrations fell 2.8% in Feb while CIPS Feb services and composite PMI data were stronger than expected (54.5 and 54.5 respectively versus 53.3 and 53.6 expected).

Adverse weather has prompted concerns that UK growth may be hit quite hard in Q1 but we rather think those worries are overstated somewhat; the economy retains decent momentum at this point.

Of more concern perhaps should be PM May’s speech on Brexit last week still leaving a lot of detail to be clarified on how Brexit will work and how a UK economy striving its own trade agreements can relate to a more protectionist US."