UK GDP Grows in Q1 2019 - Forex News by FX Leaders

UK GDP Grows in Q1 2019

Posted Friday, May 10, 2019 by
Arslan Butt • 1 min read

Despite Brexit woes, 2019 has had a good start as far as the British economy is concerned. UK’s GDP posted a 0.5% growth in Q1 this year, in line with expectations and far better than the 0.2% growth in Q4 2018.

Higher consumer spending and an uptick in manufacturing have contributed to the GDP growth during this period. This points to stockpiling patterns ahead of worries of a no=deal Brexit, which could have been the most likely reason for this sudden spurt.

Manufacturing activity, which accounts for nearly half of the country’s GDP, grew by 2.2% during Q1 2019. In March, manufacturing posted a 0.9% growth, coming in higher than the 0.2% expected. Meanwhile, industrial production also came in higher during this month at 0.7%, against 0.1% expected.

UK’s economy also managed to improve business investment, as this figure grew by 0.5%, beatins expectations which were for a 0.6% decline instead. Overall, the UK economy grew by 1.8% in Q1 2019, higher than the 1.4% growth in Q1 2018.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments