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October 10, 2018 08:30 GMT
July Upgrade Boosts Underlying GDP; Masks...>
UK DATA
UK DATA: July Upgrade Boosts Underlying GDP; Masks August Subdued Form
-UK Aug GDP Flat m/m; +0.7 % 3m/3m; +1.5% 3m y/y
-UK Aug Services Flat m/m; +0.5% 3m/3m; +1.6% 3m y/y
-UK Aug Production +0.2% m/m; +0.7% 3m/3m;
-UK Aug Manufacturing -0.2% m/m; +0.8% 3m/3m;
-UK Aug Construction -0.7% m/m; +2.9% 3m/3m;
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An upgrade to July GDP growth (up 0.1pp to 0.4% m/m), courtesy of
improved services data, was enough to take the underlying measure of
growth to 0.7% 3m/3m in August - last higher in Feb 2017. On the month,
however, growth was flat in August, with output growth receding in all
but one of the output measures. Only production registered growth,
boosted by higher utilities and mining and quarrying output. Even if
September GDP growth is flat m/m, and assuming no change to Jul and
Aug, GDP will have expanded by 0.6% over Q3 - the highest since Q4 2016.
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