UK GDP Q3 2017 0.4% vs 0.3% exp q/q

by | October 25th, 2017, 08:30:04 | News

Q3 2017 preliminary UK GDP report 25 October 2017

  • Prior 0.3%
  • 1.5% vs 1.4% exp y/y. Prior 1.5%
  • Q3 service sector output 0.4% vs 0.2% prior q/q
  • Q3 industrial output 1.0% vs -0.3% prior q/q
  • Q3 construction output -0.7% vs -0.3% prior q/q
  • Aug Index of services 0.2% vs 0.3% exp m/m. Prior -0.2%
  • 0.4% vs 0.4% exp 3m/3m. Prior 0.5%

A touch better than expected and that’s given GBPUSD  a lift to 1.3168 from 1.3120.

ONS note;

  • Services: IT, Motor trades and Retail main drivers of growth
  • Manufacturing rebounded (1.0%) after weak Q2 print
  • GDP per head rose 0.3% in Q3 2017
  • In 3M to August, Services output increased 0.4% vs 3M to May
  • Largest contributor to the m/m rise came from business services and finance sector
  • Production added positively to growth in Q3, as car manufacturing saw strength in July
  • Construction ouput showed worst performance since Q3 2012, falling 0.7% for Q3 2017

Also out;

  • September 2017 UK BBA mortgage approvals 41,584 vs 51,807 prior. Revised to 41,762
Ryan Littlestone
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