Services Pulls GDP Into Growth in Oct;......>

UK DATA: Services Pulls GDP Into Growth in Oct; Other Sectors Disappoint   

-UK Oct GDP +0.1% m/m; +0.4% 3m/3m; +1.5% y/y 

-UK Oct Index of Services +0.2% m/m; +0.3% 3m/3m; +1.8% y/y  

-UK Oct IOP -0.6% m/m; +0.3% 3m/3m; -0.8% y/y    

-UK Oct Manufacturing -0.9% m/m; Flat 3m/3m; -1.0% y/y 

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After two successive months of flat growth, GDP returned to 

positive territory in October. GDP expanded by 0.1% on the month, 

dragged higher entirely by the services sector. Every other major output 

component fell on the month, suggesting underlying weakness. Services 

output was higher in 10 of its 14 sub-categories, including a 2.6% m/m 

rebound in motor trade after a emissions tests weighed on activity in 

September. Manufacturing output declined 0.9% m/m, the lowest since 

April, led by a 6.6% drop car production and a 5.0% fall in 

pharmaceutical output.