Corporate foreign exchange news

GDP figures 'likely to be revised'

Friday, 29 July 2011 08:31:15 GMT

Published by Zeb Bham
Foreign exchange trading could be impacted by changes to the Gross Domestic Product (GDP) figures released earlier this week by the Office for National Statistics (ONS).
These indicated economic growth of 0.2 per cent in quarter two of this year and served as a boost to the pound versus key currencies.
However, editor of InvestmentandBusinessNews.co.uk Michael Baxter suggested the UK faces more challenges in the next quarter and noted the figures may be revised to 0.1 per cent.
"There is no doubt that the economy is slowing and that's all likely to reflect in the ONS data," he said.
Mr Baxter added that although recession in unlikely "it's going to be limping pretty close to bottom throughout the course of this year".
The figures for the period were down from the level of 0.5 per cent seen in quarter one, a change that was put down to factors such as the royal wedding.
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