UK revised Q3 GDP data now out 23 Nov

  • 0.4% prelim
  • yy 1.5% vs 1.5% exp/prelim
  • pvt consumption qq 0.6% vs 0.4% exp vs 0.2% prev
  • govt spending qq 0.3% vs 0.3% exp vs 0.1% prev
  • gross fixed capital formation qq 0.2% vs 0.4% exp vs 0.6% prev
  • Exports qq -0.7% vs -0.7% exp vs 1.7% prev
  • Imports qq 1.1% vs 0.9% exp vs 0.2%
  • Index of Services 0.10% M/M Sep: (est 0.20%; prev R 0.10%)
    Index of Services 0.40% - 3M/3M Sep: (est 0.40%; prev 0.40%)
    Total Business Investment 0.20% Q/Q Q3 P: (est 0.30%; prev 0.50%)
    Total Business Investment 1.80% Y/Y Q3 P: (est 1.40%; prev 2.50%)

Says the ONS:

- Construction fell for a second quarter, now in recession

- Pvt consumption qq 0.6% vs 0.2% prev helped by increased car purchases
- Spending on Transport (Cars) saw a recovery, after weighing on growth in Q2
- Business investment stays positive but subdued for Q3
- Services driven almost entirely by 0.6% growth in business services and finance

Full report here

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