News Headline Summary

UK GDP (Q4 A) Q/Q -0.3% vs. Exp. -0.1% (Prev. 0.9%)

- UK GDP (Q4 A) Y/Y 0.0% vs. Exp. 0.2% (Prev. 0.0%)

- Falls in oil and gas extraction and factory output biggest downward pressure on Q4 GDP.

Update details:

- ONS says mining and quarrying took off 0.18pp from Q4 GDP , Q4 mining output drops 10.2%, biggest decline on record.

Reaction details:

- In an immediate reaction GBP/USD fell 41 pips from 1.5810 to 1.5769, Gilts moved 9 ticks up from 116.96 to 117.05 and Short sterling strip went from being flat to +2 ticks.

Print 09:30, 25 Jan 2013 - UK Data - Source: Newswires