| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | United Kingdom | GDP, q/q | Quarter III | 0.4% | 0.1% | 0.0% |
| 07:00 | United Kingdom | Business Investment, q/q | Quarter III | 1.8% | 1.2% | 1.9% |
| 07:00 | United Kingdom | Business Investment, y/y | Quarter III | 1.4% | 4.5% | 5.8% |
| 07:00 | United Kingdom | GDP, y/y | Quarter III | 0.7% | 1% | 0.9% |
| 07:00 | United Kingdom | Current account, bln | Quarter III | -24.0 | -24.1 | -18.1 |
GBP traded mixed against other major currencies in the European session on Monday as investors digested the final estimate of the UK’s gross domestic product (GDP) for the third quarter, which showed the British economy was weaker than initially suggested in the last quarter
The pound depreciated versus USD and AUD, rose versus EUR and CHF, and changed little versus CAD, JPY and SEK.
The Office for National Statistics (ONS) reported its final estimate revealed that the UK economy flatlined QoQ in the third quarter of 2024. This marked a downward revision to the initial estimate of a 0.1% QoQ expansion and represented the worst performance since a contraction in the fourth quarter of 2023 (-0.3% QoQ). Economists had predicted a 0.1% QoQ increase. In addition, the second-quarter GDP growth estimate was also revised downward to show a 0.4% QoQ advance, marginally below the 0.5% QoQ previously reported. Meanwhile, the YoY reading was revised to +0.9%, down from 1% in the preliminary estimate. However, this represents the highest annual growth rate since the first quarter of 2023 (+0.9% YoY).
A report from the employment website Adzuna revealed that the number of job openings in the UK jumped 2.3% MoM in November to nearly 880,000, a record level. Meanwhile, the advertised wage increased to GBP39,646, implying a rise of 6.5% YoY. The report also found that it now takes an average of 32 days to fill a role, the fastest rate since Adzuna began tracking this data in 2016.