Tuesday preview: UK and US third quarter GDP in focus

UK and US economic growth data for the third quarter is due for release on Tuesday.

Analysts forecast gross domestic product (GDP) in the UK rose 3% in the third quarter.

“These numbers will set the tone for how the FTSE approaches the New Year, as after Tuesday the markets only see sporadic announcements until January,” said Connor Campbell, analyst at Spreadex.

In the UK investors will also have to digest the latest BBA report on loans for house purchases, amid signs of a slowdown in the property market.

In the US, GDP is expected to have grown by 4.3%. The Federal Reserve is monitoring the health of the US economy as it weighs when to raise interest rates. The central bank last week said it would be patient when raising rates. The central bank signalled that borrowing costs could be raised as early as April.

Elsewhere in the US on Tuesday, a report on durable goods orders is foecast to show a 3% increase in November following 0.3% gain a month earlier.

TUESDAY 23 DECEMBER

INTERIM DIVIDEND PAYMENT DATE
C&C Group

QUARTERLY EX-DIVIDEND DATE

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Durable goods orders (US) (13:30)
GDP (US) (13:30)
House price index (US) (15:00)
New home sales (US) (13:30)
Personal consumption expenditures (US) (13:30)
Personal income (US) (13:30)
Personal spending (US) (13:30)
U.of Michigan confidence (US) (14:55)

GMS
Clarkson, Dairy Crest Group,Real Estate Investors,

EGMS
Cloudtag Inc., Hellenic Telecom Industries SA ADS

AGMS
Craven House Capital, Inspirit Energy Holdings, Minco, Red Rock Resources, Regency Mines

FINAL DIVIDEND PAYMENT DATE
JP Morgan Japanese Inv Trust
Northern Venture Trust

UK ECONOMIC ANNOUNCEMENTS
Balance of Payments (09:30)
BBA Mortgage Lending figures
GDP (09:30)
Index of services (09:30)