The UK economy grows at its slowest annual pace since 2010 in Q3 2019
The good news for the pound is that there was an improvement in quarterly growth in Q3, avoiding a technical recession, with the details offering some mild encouragement.
Business investment was flat on the quarter (usually negative due to Brexit uncertainty) while exports crept higher and private consumption continues to remain steady.
That said, when put into perspective of annual growth, it was rather underwhelming as the UK economy is seen growing at its slowest pace in almost a decade.
Unless the UK manages to fully move away from the mess that is Brexit, data points such as the one earlier will offer little encouragement in the big picture.
Sure, the economy isn't quite in recession territory yet but stagnant/flat-lining of growth is not a good thing either - particularly when you consider that Brexit stockpiling is in part helping to skew the data somewhat as well.
The UK may not be in a recession when you look at the numbers, but it certainly has a bit of a feel to it when you consider how much of a toll the economy has taken because of Brexit over the past three years.
For the pound, that means there still isn't much to cheer about and there won't be until things start to look brighter on the Brexit horizon.
