| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | United Kingdom | Business Investment, q/q | Quarter III | 5.5% | | -2.5% |
| 07:00 | United Kingdom | Business Investment, y/y | Quarter III | 6.2% | | 1.3% |
| 07:00 | United Kingdom | Current account, bln | Quarter III | -33.768 | -20.84 | -19.402 |
| 07:00 | United Kingdom | GDP, y/y | Quarter III | 4% | 2.4% | 1.9% |
| 07:00 | United Kingdom | GDP, q/q | Quarter III | 0.1% | -0.2% | -0.3% |
GBP weakened against most of its major rivals in the European session on Thursday, undermined by data, showing that the UK’s economy contracted slightly more than initially estimated in the third quarter of 2022.
The pound was flat against CAD and USD but fell against the rest of its major counterparts.
The Office for National Statistics (ONS) reported that its final estimate showed Britain’s gross domestic product (GDP) declined 0.3 percent q/q in the third quarter. That was worse than a 0.2 percent q/q drop in its preliminary estimate and marked the first decrease in the UK’s GDP after five straight quarters of growth. On a y/y basis, UK’s economy grew 1.9 percent in the third quarter, also worse than a preliminary estimate of an advance of 2.4 percent. That represented the weakest gain since a 7.7 percent contraction in the first quarter of 2021. Economists had forecast both readings to be unrevised.