MNI 5 THINGS: Trade To Knock Q3 GDP; Cars Hit Oct Growth

By Jai Lakhani, Laurie Laird, Jamie Satchi

     LONDON (MNI) - The following are the key points from October GDP and trade

data released by the Office for National Statistics on Monday.

     - A massive upward revision to the Q3 trade gap risks sending GDP sharply

lower, or even into negative territory for the first time in nearly six years.

     - The Q3 deficit ballooned to Stg9.8 billion from the originally-reported

Stg2.9. In the absence of other revisions, trade could have a neutral effect on

Q3 GDP, down from the 0.8 percentage point boost reported previously. GDP

expanded by 0.6% in Q3, according to the earliest calculation.

     - The economy rebounded only modestly in October, after recording no growth

in August and September, suggesting a late-summer slowdown stretched into the

fourth quarter.

     - Unusually-sluggish domestic demand for cars accounted for much of the

October weakness, with factory shutdowns reducing car production by 6.6%.

Manufacturing shaved 0.09 percentage points from monthly GDP growth.

     - National Statisticians saw "no evidence whatsoever" of stockpiling of

crucial goods ahead of a potential no-deal Brexit next March. Imports of food

products fell below their 12-month average in October, while inward shipments of

medicines were in line with their 12-month average, according to an official.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: MABDS$,M$B$$$,M$E$$$]