MNI: 5 Things We Learned From UK GDP, Current Account Data>

By Laurie Laird and Jamie Satchithanantham

     LONDON (MNI) - The following are the key points from the ONS' 

GDP and Current Account data published Friday by the Office for National 

Statistics. 

     - Third quarter GDP was revised by 0.2pp to an annual rate of 1.7%, 

but the unrevised quarterly growth rate of 0.4% masked a stronger 

performance a number of economic sectors. 

     - Industrial production, construction and business investment were 

all revised higher over the third quarter while net trade exerted a 

neutral effect on growth - a dramatic improvement from the 0.5pp drag 

reported a month ago.       

     - Household spending was revised downward 0.1pp to 0.5% q/q, taking 

the savings rate down 0.4pp to 5.2%. However, net borrowing including 

capital investments rose for the fourth straight quarter to stg2.4bn - 

the longest stretch since records began in 1987.         

     - Government spending was revised sharply lower, falling by 0.2%, 

due in part to a decline in the number of health procedures provided.       

     - The current account deficit narrowed to stg22.8bn (4.5% of GDP), 

owing largely to an improvement in the net investment position. This 

component was responsible for much of the widening in 2016.      

-London bureau: 44 (0) 203 865 3812; email: ukeditorial@marketnews.com 

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