UK GDP rose by 0.5% during Q1 2011 – CFD and Spread Betting News
Spread betting and CFD trading provider City Index (http://www.cityindex.co.uk/) takes a look at the activity affecting the financial markets on 27th April 2011.
During the first quarter of 2011, the UK's gross domestic product (GDP) increased by 0.5 per cent.
The Office for National Statistics (ONS) today (April 27th) published its preliminary estimate which shows that compared to the same three-month period in 2010, GDP increased by 1.8 per cent.
During the fourth quarter of last year, GDP retreated by 0.5 per cent, with the severe winter weather in December highlighted as having an impact.
Commenting on the report, head of equities at City Index Giles Watts stated: "The quarter's feeble growth of 0.5 per cent could convince the Bank of England that the economy may not be ready to digest a rate hike in the coming months, however."
Despite this, he added that it was welcomed that there were "no negative surprises" within the ONS data, as some market rumours suggested there could in fact have been some shocks.
Find out how you can spread bet and trade CFDs on the move with mobile trading at: http://www.cityindex.co.uk/trading-platform/mobile-trading-platform.aspx
Spread betting and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.
* Spread betting and CFD trading are exempt from UK stamp duty. Spread betting is also exempt from UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances. Please seek independent advice if necessary.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, contracts for differences (CFDs) and, in the UK, financial spread betting.
We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support. Visit http://www.cityindex.co.uk/ for more information.
During the first quarter of 2011, the UK's gross domestic product (GDP) increased by 0.5 per cent.
The Office for National Statistics (ONS) today (April 27th) published its preliminary estimate which shows that compared to the same three-month period in 2010, GDP increased by 1.8 per cent.
During the fourth quarter of last year, GDP retreated by 0.5 per cent, with the severe winter weather in December highlighted as having an impact.
Commenting on the report, head of equities at City Index Giles Watts stated: "The quarter's feeble growth of 0.5 per cent could convince the Bank of England that the economy may not be ready to digest a rate hike in the coming months, however."
Despite this, he added that it was welcomed that there were "no negative surprises" within the ONS data, as some market rumours suggested there could in fact have been some shocks.
Find out how you can spread bet and trade CFDs on the move with mobile trading at: http://www.cityindex.co.uk/trading-platform/mobile-trading-platform.aspx
Spread betting and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.
* Spread betting and CFD trading are exempt from UK stamp duty. Spread betting is also exempt from UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances. Please seek independent advice if necessary.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, contracts for differences (CFDs) and, in the UK, financial spread betting.
We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support. Visit http://www.cityindex.co.uk/ for more information.
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