GDP growth in Q1 08 was slightly stronger than expected at 0.8% q/q (consensus: 0.6% q/q; DB: 0.7% q/q). However, as we suspected, Q4 07 GDP growth was revised down to 0.6% q/q from a previously reported 0.9% q/q mainly on the back of a sharp downward revision in non-residential capital expenditure.

Filed under: Fundamental