No GDP Growth In Jan; Services Slow.........>

UK DATA: No GDP Growth In Jan; Services Slow

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- JAN GDP 0.0% M/M, +0.6% Y/Y VS DEC +0.3% M/M, +1.2%r Y/Y 

- JAN TOTAL TRADE SURPLUS GBP4.212BN VS GBP6.279BN DEC

- JAN GOODS TRADE DEFICIT GBP3.720 MN VS GBP1.418BN DEC   

- JAN INDEX OF SERVICES +0.1% M/M; +1.2% Y/Y

- JAN IND PRODUCTION -0.1% M/M, PRV +0.1%, MED +0.3%

- JAN MANUFACTURING +0.2% M/M, PRV +0.3%, MEDIAN +0.2%

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M/M GDP came in flat in Jan, in contrast to market forecasts (BBG: 

+0.2%), while the 3-month avg showed no growth for three months running. 

While manufacturing output rose by 0.2% m/m in Jan, IP dropped 0.1% due 

to a sharp fall in electricity, gas, steam and air, the biggest decline 

in almost a year. Service growth slowed to a 2-month low following Dec's 

rebound. The total trade surplus narrowed, as did the total trade 

surplus excl. gold and other precious metals which shrank to STG 0.176bn 

in Jan.