UK GDP contracted -0.6% mom in September, worse than expectation of -0.4% mom. Services dropped -0.8% mom. Production grew 0.2% mom while construction rose 0.4% mom. GDP was then -0.2% below its pre-coronavirus levels in February 2020.
Q3 GDP contracted -0.2% qoq in Q3, versus expectation of -0.5% qoq. Quarterly GDP was -0.4% below pre-coronavirus level in Q4 2019. There was no growth in services during the quarter, while production dropped -1.5%, construction rose 0.6%.
Full monthly GDP release here.
Also released, industrial production came in at 0.2% mom, -3.1% yoy in September, versus expectation of -0.3% mom, -4.3% yoy. Manufacturing production came in at 0.0% mom, -5.8% yoy, versus expectation of -0.4% mom, -6.6% yoy. Goods trade deficit narrowed from GBP -17.2B to GBP -15.7B, smaller than expectation of GBP -18.6B.
