Q4 GDP Unrevised Q/Q, While Q3 Gets Small...>

UK DATA: Q4 GDP Unrevised Q/Q, While Q3 Gets Small Bump Higher

--Q4 GDP q/q unrevised at +0.2%, y/y revised 0.1pp to +1.4%

--Q3 GDP revised up 0.1pp to +0.7% q/q

--ONS Sees no great evidence of stockpiling in Q4

--Business investment down for 4th straght quarter 

--Govt Q4 consumption +1.3% q/q, Household spending up 0.3% q/q 

--Q4 Current Acct balance -stg23.7 bln vs -stg15.7 bn Q4 2017 

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UK GDP was unrevised q/q in Q4, although y/y was revised higher by 

0.1pp to 1.4%. That followed a 0.1pp upward revision to the Q3 data to 

+0.7% q/q. Business investment fell 0.9% q/q, the 4th straight decline, 

although Q4 was revised modestly higher. The ONS saw no great evidence 

of pre-Brexit stockpiling by companies, noting a decrease of stg 1.2bn 

in stocks after alignment and balancing adjustments. The ONS noted this 

was in contrast to recent business surveys.