Latest data released by ONS - 12 August 2020
- Prior (Q1) -2.2%
- GDP -21.7% vs -22.3% y/y expected
- Prior -1.7%
- Private consumption -23.1% vs -18.9% q/q expected
- Prior -2.9%
- Government spending -14.0% vs +0.7% q/q expected
- Prior -4.1%
- Exports % vs -21.5% q/q expected
- Prior -13.5%
- Imports -23.4% vs -23.9% q/q expected
- Prior -9.4%
- Total business investment -31.4% vs -30.0% q/q expected
- Prior -0.3%
Slight delay in the release by the source. This just confirms the biggest quarterly fall in UK GDP on record as the economy gets hit on all fronts by the pandemic.
The collapse hit consumption, trade conditions, and investment - which we already know for the most part - hard and that led to the sharp drop in economic activity.
In any case, the market is solely focused on the recovery so this is "old news" as far as things go at the moment. Cable still sits lower on the day around 1.3030-40, little changed.
