Q4 GDP Growth Unrevised At +0.4%; 2017 Up....>

UK DATA:Q4 GDP Growth Unrevised At +0.4%; 2017 Revised Up  

-UK 2017 Net Trade Adds 0.6pp to Annual Growth; Strongest Since 2011

-UK 2017 H'hold Spending Adds 1.1pp to Annual Growth; Weakest Since 2011

-UK Jan Index of Services +0.2% m/m; +0.6% 3m/3m; +1.3% y/y

-UK Q4 Household Savings Ratio 5.2% Unchanged from Q3 2017   

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Growth in the fourth quarter was unrevised at 0.4% q/q but downward 

revisions to services (-0.2pp) and production (-0.1pp), though offset by 

an upward revision to construction output (+0.6pp), meant that it was a 

weaker 0.4% to more than one decimal place. Net trade subtracted 0.4pp 

from growth in Q4 while household consumption added 0.2pp. Together, 

growth in 2017 was revised up by 0.1pp from 1.7% to 1.8%. Looking to Q1 

2018, Jan services output rose by 0.2% m/m. Elsewhere, the National 

Accounts reported the household savings ratio was unchanged at 5.2%.