UK GDP Expected to Post Modest Growth in Q3
The UK's Q3 GDP is expected to show modest growth of 0.2% quarter-over-quarter, aligning with market consensus.Summary
The UK's Office for National Statistics (ONS) is set to release the advanced prints for Q3 Gross Domestic Product (GDP) on Thursday. Market consensus suggests the UK economy maintained an annualized expansion pace of 1.4%, with the quarter-over-quarter (QoQ) report anticipated to show mild growth of 0.2%. This follows a 0.3% QoQ expansion in Q2. The Bank of England (BoE) had previously lowered its Q3 GDP growth forecast to 0.2% from 0.4%. The BoE is also considering a further 25 basis point rate cut in December due to a cooling labor market and easing domestic inflation, although the headline CPI remains relatively high at 3.8% YoY in September. The preliminary Q3 GDP release is scheduled for 7:00 GMT, and analysts suggest that GBP/USD's recovery faces hurdles around the 1.3200 region.
(Source：BeInCrypto)