GBPUSD rises after UK GDP and industrial production data

UK GDP grew by 0.4% m/m, compared with expectations of 0.0% and 0.3% previously.

• On a 3M/3M basis, GDP increased by 0.4%, compared with the 0.3% forecast and 0.4% previously.

• GDP grew by 1.6% y/y, versus expectations of 1.0% and 1.1% previously.

• UK industrial production rose by 0.2% m/m in August, compared with an expected decline of 0.2% and a previous drop of 0.2%.

• Industrial production increased by 0.6% y/y, versus the 0.2% forecast and a previous decline of 0.2%.

• Manufacturing production rose by 0.9% m/m, compared with expectations of 0.2% and a previous decline of 0.5%.

• Manufacturing production increased by 2.6% y/y, versus 0.5% previously.

• The goods trade balance came in at -GBP 20.96 billion, compared with expectations of -GBP 22.4 billion and -GBP 23.01 billion previously.

• The non-EU goods trade balance stood at -GBP 9.66 billion, versus -GBP 10.45 billion previously.

• Construction output increased by 0.1% m/m, in line with expectations of 0.1%, following a 0.1% decline previously.

• Services output rose by 0.4% m/m, compared with 0.0% previously.

GBPUSD chart (H1 interval)

Source: xStation5