Q1 2018 UK GDP preliminary data 27 April 2018

ONS says;

  • Bad weather in the quarter had only minor overall negative impact
  • Q1 2018 GDP grew at slowest rate since Q4 2012
  • Weak manufacturing, downbeat high-street sales & falling construction ouput, all contributing factors
  • Contributions: Services 0.3%, Production 0.7%, Agriculture -1.4%, Construction -3.3%
  • GDP now 10.7% higher than Q1 2008 high

This is a very bad report because the minor effect from the weather means it was still a weak report without it. This is going to hit rate hike hopes further.

Ryan Littlestone

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