UK Q2 GDP second readings now out 24 Aug
- 0.3% prev reading
- yy 1.7% as exp/prelim
- pvt consumption QQ 0.1% VS 0.3% exp vs 0.4% prev
- UK loans for housing ( July) 41587 vs 40385 prev
- Exports QQ 0.7% vs 1.0% exp vs -0.7% prev
- Imports QQ 0.7% vs 0.5% exp vs 1.7% prev
- index of services mm (June) 0.4% vs 0.2% exp vs 0.3% prev revised up from 0.2%
- 3mth/3mth 0.5% as exp vs 0.3% prev revised down from 0.4%
- total business investment QQ 0.0% as exp vs 0.6% prev
- yy 0.0% vs 0.3% exp
GBPUSD lower again at 1.2791 on the lack of any bullish surprise here. Market had been buying prior but I said in my preview that sellers would be lurking.
EURGBP up to 0.9217 after 0.9204 lows.
Sys the ONS;
- GDP slowed markedly in H1
- lower value pound has hit household budgets
- In the expenditure measure of GDP there was relatively strong growth in government spending and investment; there was, however, a slowdown in growth in both household spending and business investment, to 0.1% and 0.0% respectively in Quarter 2.
Full ONS reports here
UK GDP QQ
