UK Q/Q Growth Sluggish Despite Bounceback...>

UK DATA: UK Q/Q Growth Sluggish Despite Bounceback From Dec

--Jan GDP +0.5% m/m; +1.4% y/y; +0.2% 3m/3m

--Jan Manufacturing output +0.8% m/m, -1.1% y/y

--Jan Industrial Production +0.6% m/m, -0.9% y/y

--Jan Index of Services +0.3% m/m, +1.7 y/y

--Jan Construction Output +2.8% m/m, +1.9% y/y

--Jan goods trade deficit stg13.1 bn, total deficit stg3.8bn

--Jan non-EU trade deficit stg4.98bn vs Dec stg4.369 bn

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The UK economy grew by a sluggish 0.2% in the three months to 

January, despite a smart bounce back on month from the weak January 

reading. The economy was again led by the service sector, the only 

positive contributor to growth in the 3-month period, adding just shy of 

0.4%. On a m/m basis, January recouped December's fall, with GDP up 

0.5%. Construction bounced back smartly this month, adding 2.8% after a 

2.8% fall in Dec.