Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
UK Economic Growth Slows, British Pound Falls

UK Economic Growth Slows, British Pound Falls

Talking Points

- UK GDP growth eased year/year in the second quarter of 2017, as expected, to 1.7% from 2.0%.

- In response, the British Pound fell back.

Looking for GBP trading ideas? Check out our new Trading Guides: they’re free and have been updated for the third quarter of 2017

UK economic growth fell year/year in the second quarter of 2017, with GDP expanding by just 1.7%, in line with forecasts, from 2.0% previously. Quarter/quarter growth increased marginally to 0.3% from 0.2%, also in line with expectations.

In response, the British Pound dropped back, with GBP/USD easing but still holding above the psychologically important 1.30 level. The data will likely push an increase in interest rates by the Bank of England further into the future.

Chart: GBPUSD Five-Minute Timeframe (July 26, 2017)

Chart by IG

“The economy has experienced a notable slowdown in the first half of this year,” noted, Office for National Statistics Head of National Accounts Darren Morgan. “While services such as retail, and film production and distribution showed some improvement in the second quarter, a weaker performance from construction and manufacturing pulled down overall growth.”

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at

Follow Martin on Twitter @MartinSEssex

For help to trade profitably, check out the IG Client Sentiment data

And you can learn more by listening to our regular trading webinars; here’s a list of what’s coming up

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.