Q2 2017 UK final GDP report 29 September 2017
- 1st rev 0.3%. Flash 0.3%. Q1 0.2%
- 1.5% vs 1.7% exp y/y. Prior 2.0%
- Business investment 0.5% vs 0.6% prior m/m.
- 2.5% vs 0.0% prior y/y
- Q2 current account balance -23.18bn vs -16.00bn exp. Prior -16.89bn
- July 2017 index of services -0.2% vs 0.1% exp m/m. Prior 0.4%. Revised to 0.3%
- 0.5% vs 0.7% exp 3m/3m. Prior 0.5%. Revised to 0.4%
The saving grace is business investment but the drop in the y/y GDP isn’t pretty and that could ease hike expectations. Carney has only just mentioned that the BOE will hike if the economy stays on track, we’ll, this report isn;t on track.
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