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UK Q2 GDP final estimate expected at 0.8% q/q - RBS

FXStreet (Łódź) - According to the RBS team of analysts, the final estimate of UK Q2 GDP growth, due out on Tuesday next week, should remain unchanged at 0.8% q/q, 3.2% y/y.

Key quotes

"Q2 quarterly GDP growth was unrevised at 0.8% q/q on the second estimate."

"There were some minor changes to the output components vs the preliminary reading – industrial production growth was trimmed to 0.3% q/q (from 0.4% originally), services output was unrevised at 1.0% and construction was flat (previously -0.5%)."

"The y/y rate was revised up to 3.2% from 3.1%."

"There was no GDP expenditure breakdown on the second estimate as the ONS is preparing to introduce classification changes (primarily the European System of Accounts 2010) that will be made to the ‘final’ or ‘Quarterly National Accounts’ release published on 30 September 2014."

"We do not expect any revisions to the final Q2 GDP estimate: 0.8% q/q, 3.2% y/y."

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