UK GDP grew by 0.5% in Quarter 4

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Thursday, Jan 28 2016

UK GDP is estimated to have increased by 0.5% in Quarter 4 (Oct to Dec) 2015 compared with growth of 0.4% in Quarter 3 (July to Sept) 2015. Output increased in 2 of the main industrial groupings within the economy in Quarter 4 (Oct to Dec) 2015. Services increased by 0.7% and agriculture increased by 0.6%. In contrast, production decreased by 0.2%, while construction output decreased by 0.1%.

GDP was 1.9% higher in Quarter 4 (Oct to Dec) 2015 compared with the same quarter a year ago. GDP in 2015 as a whole increased by 2.2% on 2014. In Quarter 4 (Oct to Dec) 2015, GDP was estimated to have been 6.6% higher than the preeconomic downturn peak of Quarter 1 (Jan to Mar) 2008. From the peak in Quarter 1 (Jan to Mar) 2008 to the trough in Quarter 2 (Apr to June) 2009, the economy shrank by 6.1%.

Sterling is currently being traded around 1.4310 handle. Pair is likely to find support around 1.4250 handle and resistance above 1.4350 level. Later today, in the US session, Durable Goods Orders and Unemployment Claims figures are scheduled for a release.

More in this category: « Spanish Unemployment Rate decreased more than expected Durable Goods Orders down by 5.1% »

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