Latest UK Q4 GDP reading now out 22 Feb
- 0.5% flash
- yy 1.4% vs 1.5% exp/flash
- exports qq -0.2% vs 0.5% exp vs 0.8% prev
- imports qq 1.5% vs 1.0% exp vs 0.9% prev
- pvt consumption qq 0.3% vs 0.4% exp/prev
- total business investment qq 0.0% vs 0.4% exp
- yy 2.1% vs 2.5% exp
- Dec index of services mm 0.0 % as exp vs 0.4% prev
- 3mth/3mth 0.6% vs 0.5% exp vs 0.4% prev
- household spending grew by 1.8% between 2016 and 2017, its slowest rate of annual growth since 2012, in part reflecting the increased prices faced by consumers
- GDP for 2017 revised lower to 1.7% from 1.8%; slowest rate since 3M - Dec 2012
Soggier second reading than expected/prev but GBP unfazed for the moment.
ONS cite a number of very small revisions to mining, energy generation and services leading to downward revision to data.
Full report from the ONS here
GBPUSD just a tad lower at 1.3882. EURGBP up to 0.8852 from 0.8848 only to return.
Oh well, what's next to wait for ?!
