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UK Q3 GDP stays unrevised - RBS

FXStreet (Barcelona) - The Research Team at RBS expect a slowdown in UK’s economy in 2015 in spite of the Q3 GDP staying unrevised.

Key Quotes

“Q3 GDP was unrevised at 0.7% q/q, 3.0% y/y, as expected. The GDP expenditure components – the main new information – were broadly in line with expectations.”

“Overall, this remains a domestically-centred recovery, though a relatively broad-based one across the private sector. The UK GDP data remain relatively solid: 0.7% q/q is a little above the long-run trend.”

“The main positive feature of the latest data is that investment continues to rise (an 8th successive q/q increase); less positively, net trade remains a drag on growth (wiping 0.5 percentage points off Q3 GDP).”

“We remain of the view that the UK is likely to experience a significant slowdown in growth next year: from 3.0% in 2014 to around 2.3% in 2015 as the headwinds of fiscal and monetary policy tightening and weaker external demand return growth to a trend-like pace of expansion.”

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