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UK GDP rose in line with market expectations

Friday, Nov 27 2015

UK GDP in volume terms increased by 0.5% in Quarter 3 (Jul to Sep) 2015 and by 2.3% when compared to the corresponding quarter of the previous year. This was in line with market expectations. Between 2013 and 2014 GDP increased by 2.9%; this was the highest annual rate of growth since 2005, when there was an increase of 3.0%.

When comparing Quarter 2 (Apr to Jun) 2015 with Quarter 3 2015, 3 of the 4 output industrial groupings increased. Total services grew by 0.7% over the quarter, along with production which also experienced a slight increase of 0.2%. Construction, however, fell by 2.2% after a 1.4% increase in the previous quarter. Agriculture, forestry and fishing remained stable with 0.4% growth in Quarter 3 2015.

Sterling is currently being traded around 1.05050 level. Pair is likely to find support around 1.50 handle and resistance above 1.51 area. There will be no major data releases in the rest of the session.

More in this category: « UK House Prices up by 0.1% in November German Consumer Sentiment slightly falls for December »

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