Q4 2017 UK GDP flash report 26 January 2018

  • Q3 2017 0.4%
  • 1.5% vs 1.4% exp y/y. Prior 1.7%
  • 2017 final GDP 1.8% vs 1.9% 2016
  • Nov 2017 Index of services 0.45 vs 0.2% exp m/m. Prior 0.2%
  • 0.4% vs 0.45 exp 3m/3m. Prior 0.3%

Notes;

  • On the quarter: Services grew 0.6%, manufacturing by 1.3% and production by 0.6%
  • On the quarter: Agriculture contracted by 0.4% and construction by 1.0%
  • GDP rose 1.8% for whole of 2017, slower than 2016 print of 1.9%
  • Annually, services growth has slowed from 2.5% in 2016 to 1.6% in 2017
  • Underlying picture is of slower and uneven growth across the UK
  • Boost to Q4 came from a range of services and manufacturing
  • Consumer facing sector showed much slower growth

GBPUSD likes the higher prints in GDP and it runs up to 1.4285. Matching 2016 would have been nice but the UK is still chugging along, and certainly no signs of the downfall many expected would come due to Brexit.

 

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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