UK Q1 prelim GDP: A big miss on expectations

The UK GDP first estimate came in at 0.1% q/q in the first quarter of 2018, weaker than the 0.4% figure booked in the last quarter of 2017 while missing estimates.

On an annualized basis, the UK economy’s growth rate decelerated to 1.2% in Q1 versus 1.4% seen in Q4 2017. Markets had predicted a 1.4% reading.