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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free Access**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.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MAUDR$,MAUDS$,M$U$$$,MX$$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.