On a day when the independent think tank, NIESR, published a study which showed the UK will be £100 billion worse off by 2030 than if it had remained in the EU, Theresa May was frantically trying to get support for her Brexit deal. As it stands, very few MPs appear to be in support of the arrangement, although the prime minister categorically stated that she will not extend Article 50. This is important because if an alternative deal with the EU was to be negotiated, Article 50 would almost certainly have to be extended. The Financial Times’ Henry Mance rather neatly summed up the present state of affairs.
Tuesday is the only relatively quiet day all week, although we will see the CBI distributive trades figure for November. It is expected to jump to +10 from +5 the previous month. There are no major economic data releases in the UK tomorrow, but it is a busy day for the US, with the second estimate of the GDP growth rate for the third quarter of 2018.
