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UK GDP did not change in the third quarter


November, 10 2023
watermark Economic news

According to preliminary data from the National Statistical Office, in the third quarter of 2023, the UK's economic growth remained unchanged compared to the second quarter.


This was the weakest result in the last four quarters, but still better than analysts' forecasts, which expected a 0.1% decline in GDP.


On an annualized basis, British GDP grew by 0.6% in Q3. For comparison, in the second quarter, economic growth was 0.2% compared to the previous quarter and 0.6% in annual terms compared to the same period in 2022.


Consumer spending in the period from July to September fell by 0.4%, government spending decreased by 0.5%, and business investment decreased by 4.2%.


In the service sector, a decrease of 0.1% was registered, although the construction industry showed an increase by the same amount. There were no significant changes in the production sector.


Exports increased by 0.5%, while imports decreased by 0.8%.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.