BREAKING: UK GDP above expectations!

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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