Market Update: UK GDP Stable, While Trade Deficit Widens

The UK’s current account deficit widened by £6.6 billion to £26.5 billion in Q3 (July to Sept) 2018, or 4.9% of gross domestic product (GDP)


Final GDP: The UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.6% between Q2 (Apr to June) 2018 and Q3 (July to Sept) 2018, unrevised from the first quarterly estimate of GDP. GDP was estimated to have increased by 1.8% between 2016 and 2017, revised upwards by 0.1 percentage points from the previous estimate.

Current Account: The UK’s current account deficit widened by £6.6 billion to £26.5 billion in Q3 (July to Sept) 2018, or 4.9% of gross domestic product (GDP) – the largest deficit recorded since Q3 2016 in both value and percentage of GDP terms.

All of the main components contributed to the worsening current account balance, with worsening primary income, trade and secondary income balances.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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