Q1 2016 UK GDP revision 0.4% vs 0.4% exp q/q

Author: Ryan Littlestone | Category: News

First revision of Q1 2016 UK GDP 26 May 2016

  • Prelim 0.4%. Q4 0.6%
  • 2.0% vs 2.1% exp y/y. Prelim 2.1%. Q4 2.1%
  • Exports -0.3% vs 0.1% exp q/q. Prior 0.1%
  • Imports 0.8% vs 1.0% exp q/q. Prior 0.9%
  • Business investment prelim -0.5% vs 0.1% exp q/q. Prior -2.0%
  • -0.4% vs -0.1% exp y/y. Prior 3.0%
  • Private consumption 0.7% vs 0.5% exp q/q. Prior 0.6%
  • Government spending 0.4% vs 0.4% exp q/q. Prior 0.3%
  • Gross fixed cap 0.5% vs 0.9% exp q/q. Prior -1.1%
  • Services output 0.6%
  • Industrial OP -0.4%
  • Construction OP -1.0%
  • March index of services -0.1% vs 0.2% exp m/m. Prior 0.1%
  • 0.6% vs 0.6% exp 3m/3m. Prior 0.7%. Revised to 0.8%

Some mixed messages from the first revision. Exports down, business investment looking poor but a pick up in consumption and government spending and infrastructure spending.

On the whole, GDP hasn't improved or weakened to any great degree from the prelim number and thus the pound is doing nothing. We all know the reason for what weakness there is. Begins with B and ends with T ;-)

UK GDP y/y

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