24 Feb 2016
UK: Downward revision of second estimate of Q4 GDP? – Lloyds Bank
Research Team at Lloyds Bank, suggests that the UK GDP growth has slowed over the past year, but remains creditable.
Key Quotes
“The preliminary Q4 estimate indicated that GDP growth edged up by 0.1pp to 0.5%q/q compared with Q3, in line with the MPC’s projection. Industrial production and construction output figures for December, however, have been notably weaker than the ONS expected. This has increased the risk of a downward revision to 0.4%.
The release will also include a breakdown of the expenditure components. As in recent quarters, activity is likely to be underpinned by solid domestic demand with firm retail sales in Q4 pointing to a solid contribution from household spending.”
Key Quotes
“The preliminary Q4 estimate indicated that GDP growth edged up by 0.1pp to 0.5%q/q compared with Q3, in line with the MPC’s projection. Industrial production and construction output figures for December, however, have been notably weaker than the ONS expected. This has increased the risk of a downward revision to 0.4%.
The release will also include a breakdown of the expenditure components. As in recent quarters, activity is likely to be underpinned by solid domestic demand with firm retail sales in Q4 pointing to a solid contribution from household spending.”