- past data is 0.9%
- forecast data is 0.7%
- actual data is 0.7% according to the latest press release
if actual > forecast (or actual data) = good for currency (for GBP in our case)
[GBP - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy. It's the broadest measure of economic activity and the primary gauge of the economy's health. There are 3 versions of GDP released a month apart – Preliminary, Second
Estimate, and Final. The Preliminary release is the earliest and thus
tends to have the most impact.
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The U.K. economy grew at a slower pace in the third quarter and it was preliminary estimated by the Office for National Statistics Office on Friday.
Gross domestic product climbed 0.7 percent from the second quarter, when it grew 0.9 percent. The sequential growth rate matched economists' expectations. As expected, GDP was 3 percent higher in the third quarter compared with the same quarter a year ago. GDP was estimated to be 3.4 percent higher than the pre-economic downturn peak of the first quarter of 2008.
Production and construction climbed 0.5 percent and 0.8 percent, respectively. At the same time, agriculture gained 0.3 percent.
Another report today showed that the Index of Services increased by 3.1 percent in August from last year. All of the four main components of the services industries increased compared with the same month a year ago.
According to report:
"GDP increased by 0.7% in the third quarter of 2014.The largest
contribution to the increase came from the services sector, which
increased by 0.7%.The increase in GDP followed growth of 0.9% in Q2
2014. In the latest quarter there were increases in all four main
aggregates; output increased by 0.7% in services, 0.5% in production,
0.8% in construction and 0.3% in agriculture."
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GBPUSD M5: 45 pips price movement by GBP - GDP news event:
read more about UK GDP: Sex, drugs and GDP – what’s going on? Drug-dealers and their customers in the UK may be breaking the law, but at least they are making us richer. Illegal activities such as prostitution and drug dealing will add £10bn to the UK economy, the Office of National Statistics said, as part of an overhaul of how we calculate national gross domestic product.
