**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

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