Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

UK GDP in the third quarter declined for the first time in a year and a half


December, 22 2022
watermark Economic news

According to the final data of the National Statistical Office of Great Britain, the country's economy shrank by 0.3% in the third quarter compared to the previous three months. Preliminary data indicated a decrease of 0.2%, and analysts predicted that the indicator would remain at the same level. 


It is noteworthy that the British economy recorded a decline for the first time in a year and a half, which was caused by an increase in the cost of energy and an increase in interest rates.


On an annualized basis, UK GDP increased by 1.9%, not by 2.4%, as previously reported.


In the second quarter, the economy grew by 0.2% on a quarterly basis and by 4.4% on an annual basis. In general, the volume of the British economy is now 0.8% below the pre-pandemic level (IV quarter of 2019).


The services sector grew by 0.1% last quarter, while the manufacturing sector sank by 2.5%, with a decline recorded in all 13 manufacturing subsectors. At the same time, the volume of construction decreased by 0.2%.


Consumer spending in July-September decreased by 1.1%, business investment – by 2.5%. Government spending, on the contrary, increased by 0.5%.


The volume of exports in the third quarter increased by 8.9%, while imports fell by 3.6%.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.