GBP
The UK economy’s growth slowed in the third quarter of the year being weighed
down by the performance of the construction and manufacturing
sectors. Gross domestic product grew by 0.5% between July and September
down from 0.7% in the second quarter. The rate was also lower than the 0.6%
growth predicted by analysts.

Part of the slowdown was due to the biggest fall in construction output in
three years, a drop of 2.2%. This drop in output could have been influenced by

GBP
The UK economy’s growth slowed in the third quarter of the year being weighed
down by the performance of the construction and manufacturing
sectors. Gross domestic product grew by 0.5% between July and September
down from 0.7% in the second quarter. The rate was also lower than the 0.6%
growth predicted by analysts.

Part of the slowdown was due to the biggest fall in construction output in
three years, a drop of 2.2%. This drop in output could have been influenced by
particularly wet weather in August. The service sector, the biggest part of the
economy, grew by 0.7%. However, output in the manufacturing sector declined by
0.3%. Furthermore, Chancellor George Osborne said there were more
“tough decisions” to come and that his Autumn Statement, due on 25 November,
would include “long-term investments for the future”.

USD
Durable goods orders were -0.4% against an expected 0%. In addition,
Consumer Confidence came in short – it was forecast at 102.5 but came in
at 97.6. Consumers were less positive in their assessment of present-day
conditions, in particular the job market, and were moderately less optimistic
about the short-term outlook. Despite the decline, consumers still rate current
conditions favorably, but they do not anticipate the economy strengthening much
in the near-term.

Key Announcements
USD – 18:00 : US Federal Reserve Interest Rate Decision expected stay unchanged
at 0.25%