UK GDP

The latest official economic data from the ONS shows the UK economy grew 6.6% in July, meaning by at this point half the economic output lost during the lockdown had been recovered, and the third quarter would likely see a record reading for GDP growth.

The UK suffered the deepest recession of any advanced economy in the first half of 2020 as strict lockdown measures left large swathes of the economy unable to operate, however the reopening that culminated in the early July opening of the hospitality and leisure sector should make for a solid rebound.

The UK economy grew 1.8% in May according to the Office for National Statistics, which is a negative surprise for a market that was expecting growth of 5.5% to be reported.

Britain's road to recovery may have grown longer on Tuesday and the bill for the damage done by the coronavirus larger after the Office for National Statistics (ONS) revised its estimate of first-quarter GDP lower, citing a larger than expected fall in household spending. 

The first official data showing the economic impact of the covid-19 lockdown crisis has been released, and the numbers are worse than economists had been expecting.

The UK economy could be on course for its best quarter since before the Brexit referendum of 2016 after explosive gains in GDP seen during January were extended in the February month, Office for National Statistics data showed on Wednesday. 

The UK economy rebounded from its December slump early in the New Year, according to Office for National Statistics (ONS) figures released Tuesday, and momentum behind the recovery could be enough to ensure financial markets keep faith with hawkish bets about Bank of England (BoE) interest rate policy.

Brexit remains the central driver for Sterling at present, however, there is a sizeable chunk of data being released mid-morning which will give markets a decent steer as to how the economy was looking at the start of the new year.

The ONS will be reporting monthly GDP data today but we will also be watching releases of industrial and manufacturing production as well as latest trade statistics.

The public finances improved notably in November but the economy is still on course to slow again for the 2018 year, according to economists.

Pound Sterling trades with a soft tone ahead of the weekend and the Christmas break amidst ongoing uncertainty as to how the Brexit impasse in the UK parliament will play out. Today trader focus will be on GDP, current account and public finance data releases.

The Pound was steady in the wake of October's GDP data, which showed the economy limping along in the final quarter, at the beginning of a week that promises to be dominated by events in Westminster as the Brexit soap opera enters a new chapter.

We have a slew of numbers out of the U.K. at 09:30 G.M.T. today that should tell us how the economy is looking heading into the final stage of the year.

Outlook for the British Pound has improved notably on the back of the planned fiscal expansion announced by the U.K.'s Treasury.

The outlook for the U.K. economy has improved in 2018, according to the latest round of Office for Budget Responsibility (OBR) forecasts, suggesting the lacklustre growth rates seen earlier in the year won't be repeated going forward. 

The Pound erased earlier gains and slipped lower Tuesday after official data highlighted strong momentum in the economy during the summer months but revealed a slowdown in growth during August.

The Pound steadied into the final session of the week despite a larger-than-expected widening of the currenct account deficit during the second-quarter, a fall in business investment and downward revision to first-quarter GDP numbers ahead of a weekend that could see political instability return to haunt Sterling. 

The Pound advanced against all rivals Monday as traders responded to official data showing economic growth picking up sharply during July, suggesting the economy gathered momentum at the beginning of the third-quarter.

The Pound extended losses against its rivals Friday after official data showed economic growth surprising on the downside in June, denoting a poor hand-off to the third-quarter, at a time when the currency was already under mounting pressure from unease over the trajectory of Brexit negotiations and mounting geopolitical tensions. 

The first of the new monthly estimates of GDP from the Office for National Statistics shows a mixed picture of the UK economy with modest growth driven by the services sector, partly offset by falling construction and industrial output.