GDP y/y (GBP) comes in at 1.2% against 1.1% consensus

The UK’s annual Gross Domestic Product (GDP) growth for the period ending August 2026 was reported at 1.2%, according to data released today. This figure surpassed the market consensus expectation of 1.1% and was also higher than the previous reading of 1.1%. The actual print represented a 9.1% surprise relative to the consensus forecast.

Following the release, initial market reaction showed varied movements across GBP pairs. As of 15 minutes after the print, GBPJPY moved up 8.2 pips, and GBPNZD was up 9.2 pips. GBPAUD moved down 4.9 pips, and GBPUSD moved down 3.7 pips. EURGBP saw a 0.6 pip move down, GBPCAD was up 1.3 pips, and GBPCHF showed no change from its 5-minute mark, remaining at 0.0 pips. These initial movements are generally small when compared to the median 1-hour moves observed after past GDP releases, which typically range from 5 pips for EURGBP to 19 pips for GBPNZD.