UK Q3 GDP Revised Higher
UK GDP has made a strong bounce in Q3, after the crash in Q2
Skerdian Meta•Tuesday, December 22, 2020•1 min read
The UK economy went through a massive contraction in Q2 of this year, as a result of the coronavirus and the lockdowns. We saw a 20% decline in the GDP during that quarter, but in Q3 the situation reversed after the reopening, which led to a surge in consumption and gave the economy a big boost, although this will not continue in Q4, as the new restrictions are taking their toll on the economy again.
UK Q3 Final GDP QoQ Prelim
- UK Q3 final GDP QoQ +16.0% vs +15.5% prelim
- Q3 final GDP YoY -8.6% vs -9.6% prelim
- Private consumption QoQ +19.5% vs +18.3% prelim
- Exports QoQ -0.4% vs +5.1% prelim
- Imports QoQ +11.7% vs +13.2% prelim
- Total business investment QoQ +9.4% vs +8.8% prelim
The was a slight delay in the release by the source. The UK economy bounced by more than initially estimated in Q3, with the easing of lockdown measures having helped to bolster economic output during that period. That said, the market has long moved on from this timeline, as things are looking more uncertain for the UK now, amid the discovery of the latest coronavirus strain and the Brexit woes.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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