Q3 2017 UK GDP final reading 22 December 2017

  • Prior read 0.4%
  • Q2 0.3%
  • 1.7% vs 1.5% exp y/y. Prior 1.5% prior y/y
  • Business investment 0.5% vs 0.2% prior q/q
  • 1.7% vs 1.3% prior y/y
  • Q3 current account -22.78bn vs -21.2bn exp. Prior -23.18bn

ONS says;

  • Growth in household consumption was revised down to 0.5% from 0.7%
  • Household savings ratio fell to 5.2% from 5.6% in Q3
  • Real household disposable income q/q was 0.2% for Q3
  • Net trade had no overall influence on growth
  • Q3 current account deficit narrowed from 5.1% to 4.5% as a share of GDP; smallest rise since Q1 2017
  • Household net borrowing has now risen for past four successive quarters for first time on record
  • VAT returns now used within calculations of GDP for first time

Better on the year and a decent rise in business investment. GBPUSD was heading south to 1.3355 before the data and has sprung back to 1.3375.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

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Ryan Littlestone

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