What it measures
Monthly GDP measures the change in the output of the UK economy from one month to the next, after removing the effect of price changes. The calendar shows the month-on-month change.
Who publishes it and when
The ONS publishes it at 07:00 London time, roughly six weeks after the end of the month. Every third month the release also gives the first estimate for the quarter.
How it is put together
It is built mainly from the output side: services, production and construction, with services the largest part. Monthly figures are volatile and are often revised.
What traders watch
Traders compare the monthly change with expectations and watch the three-month rate, which smooths out the noise, as well as the services figure.
How markets have usually reacted
A stronger than expected figure has sometimes supported the pound, and a weaker one has sometimes weighed on it. Because it comes out at 07:00 London time, the first reaction can be in thin trading.
Common mistakes
- Reading too much into one month: strikes, weather and holidays can move a single month a lot.
- Ignoring revisions to earlier months.
How a higher or lower figure is usually read
Faster growth than last month is usually read as supportive for the pound; slower growth or a fall as negative. Not a signal.
Release history
No past releases recorded yet.
Related news
- Bank of England Rate Decision (Bank Rate)
- UK Consumer Price Index (CPI)
- UK Retail Sales
- Economic calendar: every release this week in your time zone
- Lot size calculator: keep your risk the same around news
- How to use an economic calendar: what happens around a release, and how to plan for it
Trading involves a high risk of loss. This page is information and education, not advice or a signal to trade. See the Risk Disclaimer.
Official source
Contains public sector information licensed under the Open Government Licence v3.0.
Calendar data: www.ons.gov.uk
Published by Office for National Statistics (ONS): www.ons.gov.uk