Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  October 25, 2012 11:18:23

UK - 3Q GDP grew by 1%, the most since 2007 and above market expectations, helped LOH

UK economy in Q3 grew by 1% qoq, the largest increase since 2007. Market estimated to grow by an average of 0.6%. The strong improvement is mainly due to the positive impact of the Olympic Games and the related growth of the service sector and the fact that the comparative base of Q2 was lower due to the royal festivities.

Services that the total GDP in Britain involved full 60% recorded in Q3 growth of 1.3%, which was the most in the last 5 years. The actual revenue from the sale of tickets for the Olympic Games clkový GDP rose by 0.2 percentage points. Production grew in Q3 by 1.1%, which was the most in the last two years. For the manufacturing sector grew by 1% and construction slowed by 2.5%.

Compared GDP stagnated in Q3 unchanged. The market expected a decrease of 0.5%. Excluding one-time items, the 3Q GDP ranged from +0.2 to +0.3%.

Since the advent of James Cameron and his government in office in 3Q2010 economy has grown by only 0.6%.

The British pound and the message reagovalan strengthening against the dollar by about 0.5%. 10-year government bond yield rose 9 basis points to 1.94%.
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