Read more
6:03 AM · 12 May 2023

BREAKING: GBP drops after March GDP miss

-
-
Open account Download free app

UK data pack for March as well as full-Q1 GDP report was released today at 7:00 pm BST. While industrial and manufacturing production data turned out to be better-than-expected, GDP in March grew at a pace of 0.3% YoY - less than 0.4% YoY expected by the market. However, full-Q1 GDP growth reached 0.1% QoQ and matched expectations.

GBP moved lower following the release with March GDP data miss weighting on the currency. GBPUSD dropped to around 1.2510 following the release and another attempt at breaking below 1.25 mark cannot be ruled out.

UK data pack for March

  • Industrial production: -2.0% YoY vs -2.9% YoY expected (-3.1% YoY previously)
  • Manufacturing production: -1.3% YoY vs -2.5% YoY expected (-2.4% YoY previously)
  • GDP: 0.3% YoY vs 0.4% YoY expected (0.5% YoY previously)
  • Full-Q1 GDP growth: 0.1% QoQ vs 0.1% QoQ expected (0.1% QoQ previously)

Source: xStation5

5 March 2026, 12:46 PM

ECB Minutes: Peak Impact of Euro Strength on Inflation Yet to Come 🇪🇺

5 March 2026, 7:44 AM

Economic calendar: Central banks vs global risks to inflation (05.03.2026)

4 March 2026, 3:20 PM

Strong Service ISM Reading as activity expanded most since 2022

4 March 2026, 1:18 PM

BREAKING: Stronger than expected ADP fails to support the dollar 🇺🇸

Join over 2 000 000 XTB Group Clients from around the world
The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits