UK Preliminary GDP expands 0.1% QoQ in Q3 vs. 0.2% expected
- 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.
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