UK Q3 Growth Revised Downwards to 0.9%

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The third and “final” GDP read for Q3 shows a growth rate of 0.9%, lower than !5 reported in previous session.

GBP/USD remains stable, at a safe distance from the triple top.

GBP USD after GDP Final Release December 21 2012

GBP USD after GDP Final Release

In addition, the UK reported two other important figures: Current Account showed a deficit of 12.8 billion, lower than 14.1 that was expected and 17.4 in Q2. This is pound positive.

However, Public Sector Net Borrowing rose to 15.3 billion, higher than 14.3 billion that was expected. This is pound negative – the task of the British government to cut the deficit isn’t that successful.

Further reading: GBP/USD forecast

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About Author

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 the 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.

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