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Anzo Lim

 UK’s GDP Annual Growth in Q3 was the Lowest in a Decade

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 https://jump.wikifx.com/83348CF26389B46D

 Latest statistics show that UK’s GDP inched up 0.3% in Q3, 2019, recovering from Q2s decline and saved from sinking into a technical economic recession. Yet Britains economy still faces quite a worrying outlook. In terms of annual rate, UKs GDP increased only 1% from July to September, the lowest since Q1, 2010. Service sector has created the most momentum for last quarters growth, with a 0.4% increase in its output.

 

Construction industry grew by 0.6% thanks to the increase of construction activities, but manufacturing again turned stagnant without any growth in the quarter. Compared with other developed countries, Britains annual growth in Q3 lagged behind the US 2% growth and Frances 1.3%, but slightly better than the 0.3% increase of Italy. The countrys economy has experienced much uncertainties and different possibilities of the Brexit outlook have affected growth in one way or another.

 

In fact, It may be a bit of overstatement to call Q3s economic performance a recovery, as many business activities have taken place before October 31st. 2019s last quarter will likely weaken as business inventories decline. Though employment can prop up the economy to some extent, the weakening capacity of investors remain a problem. The next government has an obligation to revive the current economic situation.

 

GBP/USD daily pivot points: 1.2840---1.2846

 

S1: 1.2828              R1: 1.2865

S2: 1.2806              R2: 1.2880

Edited by Anzo Lim
 

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