UK: Q2 final GDP arrives at 1.2% y/y, misses estimates

The UK GDP second estimate showed that the GDP figures came in at 0.4% q/q in the second quarter of 2018, up from 0.1% previous readout while coming in line with expectations.

While on an annualized basis, the UK economy’s growth rate arrived at 1.2% in Q2, meeting the consensus forecasts of 1.3% and 1.1% flash reading (revised down from 1.3%).

Separately, the UK Q2 current deficit widened by GBP -20.317 billion versus an expansion of GBP -19.40 billion expected and GBP -15.692 billion (revised up from GBP -17.72 billion) last.