UK: GDP revisions soften 2Q19 weakness
- UK monthly GDP rebounded by 0.3% m-o-m as car manufacturing normalised after its unusually concentrated maintenance cycle in April.- The 3m-o-3m rate of 0.3% exceeded all expectations as March was broadly revised up across the sectors. A stronger statistical carry-over effect lifts my 2Q19 GDP growth forecast by 0.1pp to 0.0% q-o-q and makes weakness appear more isolated.
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