UK GDP unchanged from Prelim Reading

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Thursday, May 28 2015

UK GDP in volume terms was estimated to have increased by 0.3% between Quarter 4 (Oct to Dec) 2014 and Quarter 1 (Jan to Mar) 2015, unrevised from the previous estimate of GDP published 28 April 2015. Analysts were forecasting 0.4% growth.GDP was estimated to have increased by 2.8% in 2014, compared with 2013, unrevised from the previously published estimate.

Between Quarter 1 2014 and Quarter 1 2015, GDP in volume terms increased by 2.4%, unrevised from the previously published estimate. GDP in current prices was estimated to have increased by 0.9% between Quarter 4 2014 and Quarter 1 2015. GDP per head was estimated to have increased by 0.1% between Quarter 4 2014 and Quarter 1 2015. Between 2013 and 2014, GDP per head increased by 2.2%.

After the data Sterling was pushed sharply down and is currently being traded few points below 1.5360 level. Pair is likely to find support around 1.53 and resistance above 1.54 area. Later today, in the US session Unemployment Claims and Pending Home Sales figures are scheduled for a release.

More in this category: « Private Capital Expenditure fell by 4.4% Unemployment Claims unexpectedly increased last week »

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