- Quarterly GDP for the UK rose 0.1% in Q3 vs. 0.2% estimate.
- UK GDP came in at -0.1% MoM in September vs. 0.2% forecast.
- GBP/USD remains below 1.2700 after the UK GDP data.
The UK economy grew 0.1% QoQ in the three months to September 2024 after expanding 0.5% in the second quarter. The data missed the market forecast of +0.2% in the reported period.
The UK GDP climbed by 1.0% YoY in Q3 vs. 1.0% expected and 0.7% recorded in Q2.
The monthly UK GDP arrived at -0.1% in September, compared to a 0.2% increase in August, missing the expectations of +0.2%.
Meanwhile, the Index of services (December) came in at 0.1% 3M/3M vs. 0.1% prior.
Other data from the UK showed that Industrial Production and Manufacturing Production decreased by 0.5% and 1.0%, respectively, over the month in September. Both indicators underperformed the estimates.
The quarterly Total Business Investment increased by 1.2% through the June to September quarter.
Market reaction to the UK data
Mixed UK GDP and industrial figures failed to dent the Pound Sterling recovery. At the time of press, GBP/USD is trading 0.12% higher on the day at 1.2680.
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.34% | -0.20% | -0.16% | -0.04% | -0.28% | -0.33% | -0.33% | |
| EUR | 0.34% | 0.14% | 0.16% | 0.31% | 0.07% | 0.00% | 0.01% | |
| GBP | 0.20% | -0.14% | 0.06% | 0.18% | -0.08% | -0.14% | -0.12% | |
| JPY | 0.16% | -0.16% | -0.06% | 0.14% | -0.12% | -0.19% | -0.17% | |
| CAD | 0.04% | -0.31% | -0.18% | -0.14% | -0.26% | -0.31% | -0.30% | |
| AUD | 0.28% | -0.07% | 0.08% | 0.12% | 0.26% | -0.06% | -0.06% | |
| NZD | 0.33% | -0.00% | 0.14% | 0.19% | 0.31% | 0.06% | 0.01% | |
| CHF | 0.33% | -0.01% | 0.12% | 0.17% | 0.30% | 0.06% | -0.01% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Read the full article here
