• Today's UK's highlight is the release of the first estimate of Q1 GDP (0830 GMT). The recent survey evidence, especially the PMIs, has been fairly upbeat and points to the 0.6%q/q Q4 pace of activity being sustained. However, the latest official output figures for the industrial, construction and services sectors all signal a modest slowdown. In particular, all three sectors reported a decline in output in January, while February saw a further contraction in the construction sector, with industrial production edging up by only 0.1% on the month. 
  
  
• On the basis that the services sector expands by 0.5% in February (0830 GMT)  and March, Lloyds Bank  anticipates a 0.4% GDP print which would be the weakest quarterly rise since 2013Q4. 
  
  
• While such an outcome is not expected to be the first salvo in a more general slowdown in activity during 2015 with the Bank of England likely to look through the softness in anticipation of revisions, it could add to MPC concerns about the ongoing weakness of productivity growth. BBA data on mortgage approvals for March are also released at (0830 GMT). 
  
  
• With tomorrow's US Q1 GDP (1230 GMT) release expected to show a weather-related slowdown, markets will be seeking guidance from the Conference Board consumer confidence survey for April (1400 GMT) for a steer on the Q2 outlook. Lloyds Bank have penciled in a rise to 103.0 which would be considerably higher than its Q1 average of 101.3.