UK DATA: Q3 Revised GDP +0.6% q/q; +0.5% y/y; median 0.5% q/q; 0.5% y/y
————————————————————————
Q3 economic growth was revised up slightly, but the outlook for
growth remains fragile. GDP was revised up to show an increase of 0.6%
on the quarter in Q3 compared with the initially estimated 0.5% rise,
above the median forecast for an unrevised outturn. The data, though,
are already looking a bit historic with most analysts focusing on what
happened in Q4 with the Bank of England forecasting flat output over the
quarter. Services growth was revised up to show a rise of 0.7% on the
quarter against the initially estimated 0.6% increase. Construction
output was also revised up to show a rise of 0.3% compared with the
previously reported 0.2% fall. Industrial production was revised down to
0.2% on the quarter from 0.4%.