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UK Q3 GDP revised downward to 0.4 per cent

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The third estimate of UK’s third quarter GDP was released today by the ONS. UK GDP in volume terms dipped to 0.4% between Quarter 2 2015 and Quarter 3 (July to Sept) 2015, down from the 0.5 per cent growth recorded at the second estimate. The figure is also below the preliminary estimate of GDP published on 27 October 2015. Year on year, the GDP was recorded at 2.1 per cent, down from 2.3 per cent registered previously and below consensus.

    Growth in the second quarter was revised down by 0.2 percentage points to 0.5 per cent.

    Trade deficit doubled but the impact was offset by a sharp narrowing in the deficit on investment income.
    Downward revisions to the finance industry resulted in GDP growth falling in the third estimate. With this revision growth in the third quarter now stands at 2.1 percent, down from a previous estimate of 2.3 per cent.
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