UK Q1 2018 GDP 1st revision unchanged at 0.1% vs 0.1% exp q/q

Q1 2018 UK GDP 1st revision 25 May 2018

Prelim 0.1%. Q4 0.4%
1.2% vs 1.2% exp. Prelim 1.2%. Q4 1.4%
Consumption 0.2% vs 0.1% exp q/q. Prior 0.3%
Government spending 0.5% vs 0.3% exp. Prior 0.4%
Exports -0.5% vs 0.4% exp. Prior -0.9%
Imports -0.6% vs 0.1% exp. Prior 0.4%
Business investment -0.2% vs 0.35 prior q/q
2.0% vs 2.6% prior y/y
March 2018 index of services 0.1% vs 0.1% exp m/m. Prior -0.2%. Revised to -0.3%
0.3% vs 0.3% exp 3m/3m. Prior 0.4%. Revised to 0.5%

Notes
– Slow growth in Manufacturing & consumer facing services offset by Oil & Gas bounce
– No material evidence adverse weather had a significant negative effect on activity on the quarter
– Household consumption growth remained subdued in Q1 2018; lowest since
– Lower business investment due to Other buildings, Structures and Transport
– Total trade deficit remained at 1.5% Q1 2018, Exports -1.2% & Imports -1.1%
– Compensation of employees grew strongly Q1, reflecting record-high UK employment

GBPUSD wobbled but has recovered. Don’t ask me why as the numbers aren’t that great underneath.