Friday, July 23, 2010

UK preliminary Q2 GDP on the rise


Forex Special (Barcelona) - A preview report point to an improved health of the economy throughout the United Kingdom. After a rather modest QoQ improvement in the previous release amounting to 0.3%, expansion was set to improve. As markets conquered, forecast stood at a 0.6% growth. However, a surprising better-than-expected result of 1.1% was printed.

National Statistics also published the YoY comparison for Q2, with results also leaping. starting ground for the improvement was the 0.2% contraction in the previous release. The first landmark to be surpassed was the market expectation standing at 1.1% rise in GDP. the actual reading climbed to 1.6% expansion.

Gross Domestic Product (QoQ)

1.1%
Actual
0.6%
Consensus

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