UK GDP report for Q2 2023 as well as production data for June were released this morning at 7:00 am BST. Report turned out to be a positive surprise with GDP growth beating estimates and production data also outperforming.
UK economy grew at a pace of 0.2% QoQ in Q2 2023 while market expected no growth (0.0% QoQ). It looks like such a solid growth was achieved thanks to a much better production in June than expected. Interestingly, ONS said that a number of business explained a surge in production in June with a new bank holiday in May that caused them to ramp up production in the next month.
เริ่มเทรดทันทีวันนี้ หรือ ลองใช้บัญชีทดลองแบบไร้ความเสี่ยง
เปิดบัญชี ลองบัญชีเดโม่ ดาวน์โหลดแอปมือถือ ดาวน์โหลดแอปมือถือGBP surged on the news with GBPUSD breaking above 1.2700 mark.
GDP report for Q2 2023
- Annual: 0.4% YoY vs 0.2% YoY expected (0.2% YoY previously)
- Quarterly: 0.2% QoQ vs 0.0% QoQ expected (0.1% QoQ previously)
Data pack for June
- Industrial production: +0.7% vs -1.2% YoY expected (-2.3% YoY previously)
- Manufacturing production: 3.1% YoY vs 0.4% YoY expected (-1.2% YoY previously)
- Trade balance: -15.46 billion GBP vs -16.5 billion GBP (-18.72 billion GBP previously)
GBPUSD surged following release of UK GDP report for Q2 2023. The pair climbed back above 1.2700 mark following the release. Source: xStation5
