More on U.K. Q4 GDP: GDP estimated to have been flat in 2012. Output of production industries -1.8% Q/Q vs +0.7% in Q3; construction +0.3% vs -2.5%; services flat vs +1.2%. GDP also hurt by lower output from the North Sea. Economy is 3.3% smaller than at its peak in Q1 2008 and has only recovered about half the output lost during the financial crisis. Sterling takes a dive and is -0.1% vs the dollar, although the FTSE 100 (+0.1%) is holding up.