The initial publication stood on a growth rate of 1% in Q3. This was confirmed in the second release. A final release is scheduled towards the end of the year.
GBP/USD traded lower before the publication, getting closer to 1.60 once again. Cable is now on the rise.
The first publication of GDP for Q3 was cheered by many. However, as more data came in, it became more clear that this was only an Olympic leap and not a change in course.
Other British data released at this time was rather positive: business investment rose by 3.7%, much better than 1.3% that was expected. The pound reached higher ground thanks to the appointment of Mark Carney as the governor of the BOE.
Carney currently heads the Bank of Canada, and is a highly regarded central banker. He could bring some hawkishness to the dovish BOE.
For more on the pound, see the GBPUSD forecast.
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