UK Q4 GDP revised higher, Current account deficit hits record high
|The UK Office for National Statistics (ONS) revised Q4 GDP higher largely on the back of an upward revision in the construction sector in December 2015.
GDP was revised to +0.6% q/q and 2.1% y/y in the period, up from the second estimate of 0.5% and 1.9% respectively.
Key points
UK Q4 current-account deficit printed at 7% of GDP, most on record.
Real household disposable income fell in the quarter, down 0.6%.
The quarterly household savings ratio also fell, standing at 3.8% vs 4.8% in Q3.
The annual savings rate for 2015 was 4.2%, with both the Q4 and 2015 levels the lowest ratios since records began in 1963.
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