UK profile of growth fared better in Q3 than expected - ANZ

UK’s revised Q3 GDP rose 0.5%, in line with the preliminary estimate as notes by the Research Team at ANZ.

Key Quotes

“Real private consumption rose 0.7% q/q, down from 0.9% in Q2 but still encouraging given the uncertain post-referendum environment. Gross fixed capital formation rose 1.1% vs 1.6% in Q2 and exports rose 0.7% following a 1% drop the previous quarter. The profile of growth is as expected, but it has fared better in Q3 than expected and is consistent with the BoE keeping interest rates on hold.”