07:00 AM GMT, United Kingdom - GDP data for December:
- GDP: actual -0.1% MoM; forecast -0.2% MoM; previous 0.2% MoM;
- GDP (Q4): actual -0.2% YoY; forecast 0.1% YoY; previous 0.2% YoY;
- GDP (Q4): actual -0.3% QoQ; forecast -0.1% QoQ; previous -0.1% QoQ;
- GDP: actual 0.0% YoY; forecast 0.3% YoY; previous -0.3% YoY;
- Monthly GDP 3M/3M Change: actual -0.3%; forecast -0.1%; previous -0.2%;
07:00 AM GMT, United Kingdom - Industrial Production for December:
- Industrial Production: actual 0.6% YoY; forecast -0.4% YoY; previous 0.1% YoY;
- Industrial Production: actual 0.6% MoM; forecast -0.1% MoM; previous 0.5% MoM;
The data indicates a weaker economic performance in the UK than anticipated, confirming a technical recession in the latter half of the previous year. This challenges the earlier beliefs about the economy's resilience in the final quarter and could increase pressure on the Bank of England to reduce interest rates sooner. This is particularly relevant if this negative trend continues into the current year.
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