GBP/USD continues to flirt with a break or bounce of the 200-day MA just below the 1.2100 level. Get your market update from zvawda here:
data is estimated to have fallen by 0.3% in Q3, a downward revision from the first estimate of 0.2%. We have seen downward revisions across 2022 meaning that real GDP is now estimated to be 0.8%, below its pre-pandemic level . Real households' disposable income continues to feel the effects of the rising cost of living as it fell by 0.5% this quarter; this is the fourth consecutive quarter of negative growth in the RHDI. Output is now estimated to have fallen by 0.
Most service sub-sectors have seen a slowdown, yet services output grew by 0.1% in Quarter 3 2022, revised up from a first estimate of flat output. Compared with pre-coronavirus pandemic levels, services output is now 1.3% below its Quarter 4 2019 levels, revised down from previously 0.9% below. We did see the UK's trade deficit for goods and services improve in Quarter 3 2022.continues to flirt and find support off the 200-day MA.
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