The Preliminary Gross Domestic Product of the United Kingdom for the third quarter of 2020 has grown by 15.5%, only three tenths below the 15.8% expected. In the first quarter, GDP fell by 19.8% and in the first it fell by 2.2%.
Annualized GDP for the third quarter fell by 9.6%, worsening the decline of the estimated 9.4%, although it moderated the sharp decline seen in the second quarter of the year to -21.5%.
The UK has also published its monthly data for industrial and manufacturing production of September. The first grew 0.5%, without reaching the 0.8% forecast, although exceeding the previous 0.3%. The second increased only 0.2%, below the estimated 1% and the previous 0.7%.
GBP / USD reaction
GBP / USD fell minutes before the data to its two-day low at 1.3181. After the publication, the pair has rebounded slightly higher, reaching the 1.3195 zone. At time of writing, the pound is trading against the dollar above 1.3194, losing 0.17% on the day.
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Credits: Forex Street
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