The UK economy grew by 0.5% in Q4 2014 according to the first release. Year over year, the economy grew 2.7%, also 0.1% below predictions. The ONS says it is too early to say if there is a general economic slowdown in the UK. Indeed, year over year growth is actually up and the country’s growth is still positive and significantly stronger than in 2013. The small miss weighs on GBP/USD, but the move is not extreme: the pair is down below 1.5060. Update: after the initial drop, cable is recovering back up to 1.5075. Among the components, we have another steady rise of 0.8% in the services sector, exactly like in Q3. Manufacturing is basically grounding to a halt in the UK with only +0.1%. The energy sector is down 2.8%, but this is only a small part of the economy. The BBA mortgage approvals also fell short of predictions with 35.7K instead of 36.6K expected. The United Kingdom was expected to report a growth rate of 0.6% quarter over quarter in Q4 2014 after a rise of 0.7% in Q3. In yearly terms, a rate of 2.8% was predicted, actually higher than 2.6% seen in Q3. This is the preliminary reading for the quarter. Two revisions follow. GBP/USD flirted with the 1.51 level, after recovering from trading below 1.50 not too long ago. The pound was hit hard last week by the unanimous decision of the MPC not to raise rates. Cable was also carried lower following a USD rally. Sterling did however gain against the euro. Here is the preview: trading the UK GDP with GBP/USD. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD: Momentum Loss?; USD/CAD: 1.25 Breakout? – Goldman Sachs Yohay Elam 8 years The UK economy grew by 0.5% in Q4 2014 according to the first release. Year over year, the economy grew 2.7%, also 0.1% below predictions. The ONS says it is too early to say if there is a general economic slowdown in the UK. Indeed, year over year growth is actually up and the country's growth is still positive and significantly stronger than in 2013. The small miss weighs on GBP/USD, but the move is not extreme: the pair is down below 1.5060. Update: after the initial drop, cable is recovering back up to 1.5075. Among the components, we have… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.