Q3 2014 UK GDP preliminary 0.7% vs 0.7% exp q/q

• Q2 prior 0.9%
• 3.0% vs 3.0% exp. Prior 3.2%
• August index of services 0.0% vs 0.3% exp. Prior 0.3%. Revised to 0.2%
• 3m/3m 0.8% vs 0.9% exp. Prior 1.0%
• Production 0.5% vs 0.2% prior q/q (mfg 0.4% vs 0.5% prior)
• Services 0.7% vs 1.1% prior q/q
• Construction 0.8% vs 0.7% prior q/q

The headline numbers are right on expectations so there’s some relief pound buying going on, nothing major though and was worth about 30 pips between 1.6025/55. The details show the concerns we’ve seen in the data. Manufacturing at the lowest since Q1 2013

UK GDP Q3 2014 details 24 10 2014

UK GDP Q3 2014 components 24 10 2014

UK GDP Q3 2014 5 year averages vs current 24 10 2014