The euro gave up daily gains against the buoyant British pound, after stronger-than-expected UK GDP numbers. The pair retreated from session highs near 0.8670 to approach the 0.8650 area, turning negative on the daily chart.
UK GDP data revealed that the country’s economy grew at a rate of 0.3% in November, despite uncertainty over the government’s budget, after a 0.1% contraction in October. November data beat the market consensus of 0.1% growth.
GDP data were based on generalized growth in most sectors. Manufacturing production accelerated to 2.1%, after growth of 0.4% in October, and the services sector grew at a pace of 0.2%, from 0.1% in the previous month. Construction activity was the exception with a decline of 1.3%.
On the other hand, the Euro remains weak, making the pair unable to take off from the four-month low of 0.8644, which was recorded last week. Shrug
Later on Thursday, Eurostat will release data on industrial production in the euro zone, which is expected to rise 0.5% in November, after a 0.8% increase in October. Factory production is expected to grow year-on-year at a constant rate of 2%. The Euro will need a big surprise to shake off its downward momentum.
Economic indicator
GDP (monthly)
Gross Domestic Product (GDP) issued by the office National statistics On a monthly and quarterly basis, it is a measure of the total value of all goods and services produced in the United Kingdom during a given period. GDP is the main measure of economic activity in the United Kingdom. The monthly reading compares economic activity in the reference month to the previous month. Generally, a rise in this indicator is considered bullish for the British Pound (GBP), while a low reading is considered bearish.
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Latest version:
Thursday 15 January 2026 at 07:00
repetition:
monthly
actual:
0.3%
consensus:
0.1%
former:
-0.1%
source:
Office for National Statistics
Economic indicator
Industrial Production (monthly)
Industrial production issued by National statistics Measures manufacturing production. Industrial production is important as a short-term indicator of the strength of UK manufacturing activity which dominates a large portion of GDP. A high reading is considered positive (or bullish) for the GBP, while a low reading is considered negative (or bearish).
Read more.
Latest version:
Thursday 15 January 2026 at 07:00
repetition:
monthly
actual:
2.1%
consensus:
0.5%
former:
0.5%
source:
Office for National Statistics
