- Prior flash 0.5%. Q3 0.7%
- 2.7% vs 2.7% exp y/y. Flash 2.7%. Q3 2.6%
- Exports 3.5% vs 1.1% exp q/q. Prior 0.6% revised to -0.8%
- Imports 1.3% vs 1.5% exp q/q. Prior 1.3% revised to 1.4%
- Private consumption 0.5% vs 0.85 exp q/q. Prior 0.9% revised to 0.7%
- Total business investment -1.4% vs -1.4% prior q/q revised to -1.2%
- 2.1% vs 5.2% prior y/y revised to 6.3%
- Gross fixed cap -0.5% vs +0.8% exp q/q. Prior 0.1% revised to 0.5%
- Dec Index of services 0.6% vs 0.4% exp m/m. Prior 0.1%
- 0.8% vs 0.8% exp 3m/3m. Prior 0.8% revised to 0.7%
A mixed bag on the face of it. Headline numbers are unchanged and there's a good jump in exports, partly offset by a worse revision.
Business investment falling is probably the greatest concern. The ONS point to the falling oil price as possibly curtailing investment in the oil extraction industry. Other quarters are pointing to the elections as a possible reason for a drop in investment.
GBP/USD hasn't even blinked at the numbers as it does nothing at 1.5527
Construction came in worse on the quarter at -2.1% vs -1.8% prior but gained y/y to 4.7% from 3.5%
