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23 Dec 2015

UK Q3 GDP Less Than Estimates

Market focus today is on a string of economic releases in the UK and the US. Just now, the final snapshot of the third quarter UK GDP figures showed that the economy expanded at a slower pace than initially thought, due to downward revisions to the finance industry. However, Britain’s current account deficit for the third quarter brought in some cheer to the UK central bank, as it defied expectations of a sharp widening in deficit. The current account gap currently equates to 3.7% of GDP. Later in the day, a wave of US economic numbers is scheduled which includes durable goods orders, personal spending and income, new home sales and a consumer morale report.