BREAKING: GBP gains after solid Q1 GDP data

7:04 AM 10 May 2024

UK data pack including GDP data for Q1 2024 and industrial production data for March was released today at 7:00 am BST. Report turned out to be a positive surprise with GDP and industrial data beating expectations. UK economy expanded by 0.6% QoQ - the fastest pace of growth since Q1 2022. Meanwhile, industrial production data unexpectedly increased on a monthly basis.

Unsurprisingly, GBP reacted positively to the data with GBPUSD trading around 0.1% above pre-release levels.

UK, GDP report for Q1 2024

  • Quarterly: 0.6% QoQ vs 0.4% QoQ expected (-0.3%  QoQ previously)
  • Annual: 0.2% YoY vs 0.0% YoY expected (-0.2% YoY previously)

UK, industrial production for March

  • Monthly: 0.2% MoM vs -0.4% MoM expected (1.1% MoM previously)
  • Annual: 0.5% YoY vs 0.3% YoY expected (1.4% YoY previously)

Source: xStation5

Share:
Back

Join over 1 600 000 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