Preliminary figures from the United Kingdom’s Office for National Statistics (ONS) showed that the UK’s GDP grew by 0.5% in October, after a 0.6% decline in September, while expectations were for a growth of 0.4%.

On the other hand, the economy recorded a growth of 0.3% on a quarterly basis in the three months ending in October, compared to the three months ending in July.

In terms of production, the growth in the services sector increased by 0.6% in October as the largest contributor to the growth of the GDP, as the largest contributions came from the wholesale and retail trade and auto repair sectors.

On the other hand, the construction sector recorded a growth of 0.8% in October, the fourth consecutive increase.

The pound sterling, in turn, is trading at 1.2230 levels, stable since the beginning of the opening Asian session of the week.