Q1 GDP Growth Revised 0.1pp Higher to +0.2%.>

UK DATA: Q1 GDP Growth Revised 0.1pp Higher to +0.2% q/q; +1.2% y/y   

-UK Apr Services Output 0.3% m/m; 1.6% y/y; 0.2% 3m/3m    

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Improvements in the measurement of construction output drove the 

0.1pp upward revision to Q1 q/q GDP growth. Construction output was 

revised upwards to show a 0.8% q/q decline, from a 2.7% fall reported 

previously. On an output basis, services contributed 0.23pp to overall 

growth. Production output was revised downward, but still contributed 

0.06 percentage points to growth. On the expenditure side, net trade was 

upwardly revised to show a 0.1pp positive contribution growth, up from 

its prior neutral contribution, while business investment was revised 

down 0.2pp to -0.4% q/q. The households' saving ratio fell 0.4pp to 4.1% 

in Q1, the third-lowest on record. 2017 annual GDP growth was revised 

down 0.1pp to 1.7%.