UK DATA: Q1 GDP Unrevised at +0.5% q/q; revised down.

UK DATA: Q1 GDP Unrevised at +0.5% q/q; revised down to +1.6% y/y
–Q1 GDP median forecast +0.5% q/q; +1.8% y/y
–Q1 Household Spending -0.6% q/q; -0.5% y/y; largest q/q fall Q2 09
–Net trade adds 1.4pp to q/q growth largest since 1979
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Quarterly economic growth was unrevised in the first quarter with a
sharp fall in domestic spending offset by a boost from net trade,
figures released by National Statistics showed Tuesday. The figures
highlight the squeeze that households are under with real disposable
income falling at its fastest annual pace for more than 30 years and the
saving ratio posting a fall.