FLASH: UK industry stalls temporarily in Oct-17
- UK industrial output stalled in October after a brisk few months for most areas. It still looks on-track for growth near to 1.0% q-o-q in Q4, adding 13bp to GDP growth.- Construction output disappointingly declined by 1.7% m-o-m, but this may partly reflect dodgy seasonals so it could be revised up again. Absent that or a rebound, construction could fall by 2.5% q-o-q, subtracting 14bp from Q4 GDP growth.
- External goods trade data revealed a slightly smaller deficit than expected amid an ongoing recovery in external demand rather than newfound competitiveness.
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