GDP Growth Highest Since Q4 2016; Lifted By.>

UK DATA: GDP Growth Highest Since Q4 2016; Lifted By Strong July  

-UK Q3 GDP First Estimate +0.6% q/q; +1.5% y/y

-UK Q3 Household Consumption +0.5% q/q; +1.8% y/y

-UK Q3 Net Trade Contributes +0.8pp to Q3 GDP; Biggest Since Q4 2016

-UK Q3 Business Investment -1.2% q/q; Biggest fall since Q1 2016

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GDP rose by its fastest pace in almost two years, up 0.6% q/q and 

in line with analysts' expectations. Strong growth in July accounted for 

most of the Q3 strength, with monthly GDP growth flat in both in August 

and September, hinting at an underlying autumn slowdown. While household 

consumption registered growth (+0.5% q/q), business investment (BI) 

continued to disappoint - down for the third straight quarter. 

Worringly, each q/q decline in BI has grown in size. Service sector 

growth was down 0.1% on the month, which means it has expanded only once 

over the previous four months.