UK Q1 GDP Unrevised, Trade Drags On Growth..>

UK DATA: UK Q1 GDP Unrevised, Trade Drags On Growth 

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Q1 GDP 0.5% Q/Q; 1.8% Y/Y VS +0.2% Q/Q Q4}

Q1 BUSINESS INVESTMENT +0.4% Q/Q; -1.5% Y/Y}   

Q1 CONSUMER SPENDING +0.6% Q/Q; +1.9% Y/Y}

Q1 GOVT SPENDING +0.8% Q/Q; +1.6% Y/Y}

Q1 TOTAL EXPORTS +1.5% Q/Q; +3.0% Y/Y} 

Q1 TOTAL IMPORTS +10.8% Q/Q; +14.3% Y/Y}

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UK Q1 GDP was unrevised in 2nd estimate, up 0.5% on quarter and up 

1.8% year-on-year, in line with MNI median expectations. As seen in the 

first read, growth was boosted in the quarter by stockpiling effects 

ahead of the original March 29 Brexit date. Trade was confirmed as a 

major drag on growth through the quarter, subtracting the best part of 

3.0pp from the data -- although a large part was due to non-CB gold 

holdings.