• UK GDP rose more than expected in Q3. GBP/USD up 50 pips after the news

Market news

25 October 2017

UK GDP rose more than expected in Q3. GBP/USD up 50 pips after the news

UK gross domestic product (GDP) was estimated to have increased by 0.4% in Quarter 3 (July to Sept) 2017, a similar rate of growth to the previous two quarters.

Services increased by 0.4%, the same rate as Quarter 2 (Apr to June) 2017 and remains the largest contributor to GDP growth, with a strong performance in computer programming, motor trades and retail trade.

Manufacturing returned to growth after a weak Quarter 2 2017, increasing by 1.0% in Quarter 3 2017.

Construction has contracted for the second quarter in a row, although the industry still remains well above its pre-downturn peak.

GDP per head was estimated to have increased by 0.3% during Quarter 3 2017.

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