The preliminary UK Gross Domestic Product for the third quarter grew by 1.3%, below the 1.5% expected and 5.5% in the second quarter. The Year-on-year GDP increased by 6.6%, without reaching the 6.8% expected, after growing 23.6% in the previous quarter.
The UK has also released its industrial and manufacturing production data for September, both below estimates. Industrial production fell 0.4% monthly, disappointing the + 0.2% forecast after growing 0.8% in August. At the annual level, the indicator increased by 2.9% compared to the 3.1% expected and the previous 3.7%. Manufacturing production grew 0.1%, without reaching the previous 0.8% and the 0.2% forecast. Annually, the indicator increased by 2.8% compared to the previous 4.1% and the 3.1% of the market consensus.
Finally, the UK trade balance moderated its deficit slightly in September, placing it at -14,736B from the previous -14,927B, although a further reduction to -14.3B was expected.
GBP / USD reaction
The GBP/USD it has fallen just over 15 pips after the data was released, sliding towards the 1.3410 area. Previously, in the Asian session, the pair touched down in 1.3393, new low of the year 2021. At time of writing, the pair is trading above 1.3413, gaining 0.04% on the day.
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