Latest data released by ONS - 9 October 2020

  • Prior +6.6%; revised to +6.4%
  • GDP +8.0% vs +8.2% 3m/3m expected
  • Prior -7.6%; revised to -6.8%

Slight delay in the release by the source. The headline missed estimates by quite a bit and for some context on the level of economic activity, UK GDP in August is down 9.3% from the same month a year ago.

This just further underscores the challenges faced by the economy and that the economic rebound in Q3 may not be as robust as anticipated.

Add that to growing concerns of the virus situation now, Brexit risks, and the furlough program expiring at the end of the month, things could get dicey towards the year-end.

There's also factory activity data released at the same time are as per below:

  • Manufacturing production +0.7% vs +3.0% m/m expected
  • Prior +6.3%
  • Manufacturing production -8.4% vs -5.9% y/y expected
  • Prior -9.4%
  • Industrial production +0.3% vs +2.5% m/m expected
  • Prior +5.2%
  • Industrial production -6.4% vs -4.7% y/y expected
  • Prior -7.8%
  • Construction output +3.0% vs +5.0% m/m expected
  • Prior +17.6%
  • Construction output -13.0% vs -9.2% y/y expected
  • Prior -12.7%