27 Apr 2016
UK economy expanded by 0.4% in the 1Q2016 - TDS
Research Team at TDS, notes that the UK economy expanded by 0.4% in the first quarter of 2016, growing in line with market expectations.
Key Quotes
“Services output expanded by 0.6% q/q, but declines were registered in the other three categories of output, with production falling 0.4%, construction falling 0.9%, and agriculture falling 0.1%.
The ONS noted that there were no signs of EU Referendum-related uncertainty weighing on growth in the quarter, as was evident from the monthly data released in recent weeks. However, momentum remains weak heading in to 16Q2, and this is likely where we’ll see a soft quarter reflecting heightened uncertainty. The monthly index of services release showed a gain of just 0.1% m/m in February, coming on a downward-revised 0.1% gain in January.”
Key Quotes
“Services output expanded by 0.6% q/q, but declines were registered in the other three categories of output, with production falling 0.4%, construction falling 0.9%, and agriculture falling 0.1%.
The ONS noted that there were no signs of EU Referendum-related uncertainty weighing on growth in the quarter, as was evident from the monthly data released in recent weeks. However, momentum remains weak heading in to 16Q2, and this is likely where we’ll see a soft quarter reflecting heightened uncertainty. The monthly index of services release showed a gain of just 0.1% m/m in February, coming on a downward-revised 0.1% gain in January.”