UK Q4 GDP final data 29 March
- 0.4% flash/prev
- yy 1.4% as exp/flash
- total business investment qq final 0.3% vs 0.0% exp/prev
- yy 2.6% vs 2.1% exp/prev
- Jan index of services mm 0.2% as exp vs 0.1% prev revised up from 0.0%
- 3mth/3mth 0.6% as exp vs 0.4% prev revised down from 0.6%
Move along everyone. Nothing to see here. Pound suitably unmoved
GBPUSD 1.4047 EURGBP 0.8761 GBPJPY 149.65
One area of note and concern is household income, a problem area I have highlighted for a while now:
The households' saving ratio fell to an annual record low of 4.9% in 2017 (since comparable records began in 1963) as growth in households' spending exceeded the growth of households' income.
Latest estimates suggest households were net borrowers in 2017 for the first time since records began in 1987; this reflects five consecutive quarters of net borrowing by households.
Real household disposable income growth slowed to 0.1% in Quarter 4 (Oct to Dec) 2017 compared with the previous quarter, as the impact of inflation on income intensified.
Households accumulated slightly more debt (loans) in 2017 than they did financial assets for the first time since records began in 1987.
Full report from ONS here
