Economic Monitor
THE SECOND ESTIMATE OF GDP FOR THE LAST QUARTER OF 2016 WAS REVISED UP FROM 0.6% TO 0.7%
The second estimate of GDP for the last quarter of 2016 was revised up from 0.6% to 0.7%. Revisions within the manufacturing industry were behind the increase, though the largest contribution to growth in the quarter remains that of the retail industry. Consumers were the main beneficiaries of retail’s strong performance, taking full advantage of low and falling shop prices to spend, whilst at the same time retailers saw their margins squeezed.....