GDP (MoM) (UK)
Event Date: Tuesday, April 13, 2021
Event Time: 06:00 CET
Updated Tuesday, April 13, 2021
The pace of expansion of the UK economy was slowing for several months during Q1 2018. Although in Q2, the economic growth returned to normal, increasing to 0.4% as September's report showed. In Q3, the final reading in October showed that the GDP grew by 0.6% in Q3, which is impressive considering Brexit. But in Q4 the global economy weakened further as did the UK economy, and the final GDP reading for that quarter came at 0.2%. The Q1 of this year was expected to be better with the economy expected to have expanded by 0.5%, but the monthly GDP report for April showed that the economy fell flat at 0.0%. The UK economy expanded by 0.5% in Q1 in the prelim reading and the final reading remained unchanged. But in Q2, we saw a 0.2% contraction. Some were expecting another negative quarter in Q3, which would mean contraction, but UK just missed that, although August and September were negative. In October, the economy stopped contracting, but it didn't grow by 0.1% as expected, instead it fell flat at 0.0%. In November it contracted again, this time by 0.3%, but it expanded in December by the same amount, as the situation became clearer after UK elections. Although it fell flat in January at 0.0%. In February the economy shrank by 0.1%, while in March the contraction deepened to -5.8%, but in April we saw the biggest contraction ever at -20.5% in Q2, which was revised lower to -19.8%. After the reopening, the UK economy rebounded strongly. Although, since November number have been volatile, as restrictions increased. Please follow us for live coverage in real time of the event by experienced analysts.
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About GDP (MoM) (UK)
Gross Domestic Product (GDP) measures the total value of a country’s industrial output over a given period. It consists of the aggregate domestic production of goods and services by individuals, businesses, and government. GDP data is available in dollar or index form. U.K. GDP (MoM) is the comparison of growth from one fiscal quarter to the next, represented in a percentage format.GDP (MoM) is a leading indicator of U.K. economic health. High levels of GDP growth are viewed as being positive for U.K. indices as well as the GBP. Low levels of growth are negative to most asset classes and are common to recessionary cycles. The Bank of England (BOE) places a great deal of emphasis on monthly and yearly GDP. Robust growth is often a prelude to monetary tightening, while stagnate levels provide an environment conducive to Quantitative Easing (QE).Traders monitor GDP (MoM) releases closely. Abnormal reports may cause rapid buying or selling of the U.K. indices or GBP. Currency, equities, and commodities markets all exhibit enhanced degrees of volatility surrounding the GDP release.