- UK GDP arrived at 0.1% MoM in Oct vs. 0.4% expected.
- GBP/USD is little changed around 1.3215 on downbeat UK GDP.
The UK GDP monthly release showed that the economy expanded less than expected in October, arriving at 0.1% vs. 0.4% expectations and 0.6% previous.
Meanwhile, the Index of services (October) arrived at 1.1% 3M/3M vs. 1.6% prior.
The Cable keeps its range around 1.3215 despite the below forecasts UK growth numbers. The spot is modestly flat on the day.
About UK GDP
The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).
