UK Stocks seeking direction today after UK GDP data

UK Stocks seeking direction today after UK GDP data 150 150 Realm

UK GDP data released today by the Office for National Statistics shows the UK economy grew by 4.8% in the second quarter – a bounce back from the first quarter contraction of 1.6% but still leaves the economy 4.4% below its pre-pandemic level.

In the US, stocks gained on Wednesday with concerns easing over the likelihood that the Fed will start cutting back on their bond-buying program sooner than expected. CPI for July showed prices rose 5.4% over a year, just slightly higher than expectations, but moderated in July which eases pressure on the central bank. Another inflation indicator, US producer price data, is due later today.

 

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