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British pound is showing after the British data

2019-01-11 10:07 am | Resource: News | No Views : 274

Pound's performance varied after the release of UK industrial production data and November's GDP at 11:30 am on Friday, as the pound did not change slightly against the major currencies.

UK GDP growth accelerated to 0.3% in the quarter through November

UK GDP rose by 0.3% in November 2018 compared to the previous three months, according to monthly estimates released by the State Bureau of National Statistics on Friday.

"Growth in the UK economy continued to slow in the three months to November 2018, after stronger performance during mid-year, accounting and housing construction grew again but a number of other regions were slow. "The pharmaceutical industry is often weak," said National Accounts Chief Rob Kent Smith, commenting on today's figures.

Quarterly growth in the services sector was 0.3%. The construction sector was also a positive contributor, with a three-month steady growth of 2.1%. However, negative 0.8% growth in the production sector has pushed GDP down.

Industrial production in the UK fell by 0.4% in November

Industrial production in the UK fell 0.4% in November from a month earlier, the Office for National Statistics said in a report released on Friday. The main contributor to the decline in this figure was a 0.3% decline in manufacturing, while electricity and gas, as well as production, mining and quarrying fell by 1.1% and 1.3%, respectively.

The decline in industrial output was the result of a decline in eight out of 13 sub-sectors, with the largest decline coming from basic metals and metal products, which fell by 3.6%.

During the three months to November, total production fell by 0.8% compared to the three months to August, with all four major sectors falling for the first time since October 2012. Meanwhile, the annual figure was 0.9% lower, indicating the weakest growth since August 2013, and for the first time since October 2012, there was widespread weakness in all four sectors

Differential of the GBP after the data

The pound was trading at 137.82 against the yen, 1.2502 against the franc, 0.9052 against the euro and 1.2729 against the dollar at around 11:31 am.

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