UK GDP Expanded Below Forecasts Due to Slow Global Growth

The U.K.’s economic growth slowed more than expected in the fourth quarter of 2014, data showed Tuesday, as the euro zone’s troubles weighed.

According to preliminary data from Office of National Statistics (ONS), Britain’s gross domestic product (GDP) expanded by 0.5 percent in the fourth quarter on the previous three months.

This was below a forecast of 0.6 percent from analysts polled by Reuters, and marked a slowdown from 0.7 percent growth in the third quarter.

Year-on-year, the economy grew by 2.6 percent, however, representing the strongest annual growth since 2007, when it was also 2.6 percent, the ONS said.

The U.K. economy has shown itself to be one the more robust in northern Europe and beyond over the past year, making today’s data something of a concern.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza