Q1 GDP Unchanged from 0.1% Despite Minor....>

UK DATA: Q1 GDP Unchanged from 0.1% Despite Minor Revisions  

-UK March IOP Output +0.1% m/m; +2.9% y/y; +0.6% 3m/3m

-UK March Manufacturing Output -0.1% m/m; +2.9% y/y; +0.2% 3m/3m

-UK March Construction Output -2.3% m/m; -4.9% y/y; -2.7% 3m/3m

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A slight upward revision to construction output over the first 

quarter of 2018 was offset by a downward revision to production, to 

leave Q1 GDP growth unchanged at 0.1% q/q to one decimal place. 

Construction output fell 2.3% on the month in March, but revisions 

earlier in the quarter left output down 2.7% in Q1 (-3.3% q/q orev). On 

the quarter, production was revised down 0.1pp to 0.6%. Construction 

output was down 4.9% on the year in March, the biggest fall since Jan 

2013. Though unable to say definitively due to confidentiality issues, 

the ONS suggested that the collapse construction firm Carillion was 

predominantly focussed in the 'public other new work' channel.