Q1 Consumer Outlays Revised Lower But.......>

UK DATA: Q1 Consumer Outlays Revised Lower But Remain Robust

-UK Q1 Household Spending +0.6% q/q vs +0.7% previous estimate

-UK Q1 Savings Ratio Falls to 4.1% from 4.5%

-UK Q1 Households Net Borrowers for 10th-straight quarter

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UK consumer spending was revised slightly lower over the first quarter, 

but still accounted for 0.39 percentage points of total growth of 0.5%. 

The savings ratio slipped, but remained will above the 3.0% recorded in 

Q1 2017. Household borrowing on the capital account increased to 

Stg7.1bn from Stg4.4bn in Q4. That's the 10th straight quarter of 

borrowing, the longest stretch since records began in 1987.