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 ?!