Daily Commentary BY THE CURVE TEAM –

Daily Insights – Another Data Miss

26th of August, 2021

Construction Work Done

  • Construction work done during the second quarter rose 0.8%, missing estimates.
  • Weakness in the private sector dominated the outcome and was unchanged from Q1
  • By component, building work was also the weakest with engineering work holding up ok.
  • It is the first GDP partial release ahead and points to downside risk for next weeks final number

CAPEX

  • The next partial GDP indicator, CAPEX, will be out today and is estimated to rise 2.6% following a solid Q1 increase of 6.3%

David Flanagan

Director - Interest Rate Markets