Preliminary GDP data for the UK for the third quarter of 2023 came in better than expected. In contrast, industrial production data fared slightly worse. The data reported:
- GDP YoY Prelim Actual 0.6% (Forecast 0.5%, Previous 0.6%)
- GDP QoQ Prelim Actual 0% (Forecast -0.1%, Previous 0.2%)
- GDP Estimate MoM Actual 0.2% (Forecast 0%, Previous 0.2%)
- Manufacturing Production MoM Actual 0.1% (Forecast 0.2%, Previous -0.8%)
EURGBP loses in the first move right after the data release. However, the initial declines are very quickly erased, and the rate returns to pre-publication levels.
Source: xStation 5
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