Unexpected GDP Growth In The UK - MI101123

November 10, 2023
Unexpected GDP Growth In The UK - MI101123

Great news this morning as the UK quarterly GDP number came in at 0.2% growth. Whilst this isn't stellar it's certainly better than the anticipated -0.1% contraction and perhaps staves off the dreaded word....recession.

Whilst the news was upbeat, because it wasn't overly optimistic, Pound rates remained somewhat static on the back of it.

Today looks fairly quiet on the scheduled news front with highlights being the speeches from the FED, the President of the ECB and the President of Germany's Deutsche Bundesbank.

Going into next week it's UK house prices on the agenda again with Rightmove releasing its house price index.

Business news centres on the outcome of the GDP numbers and explores the tightrope the Bank of England must now deal with. Inflation is still much higher than the BoE's target, but the economy isn't booming so may need support.

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Economic calendar

EUR: 12:30 ECB's Christine Lagarde Speech

US: 12:30 FED's Lori Logan Speech

GER: 15:20 Buba's Joachim Nagel Speech

UK: Monday 00:01 Rightmove House Price Index

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