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UK’s Osborne blames global risks for slowdown in UK GDP

FXStreet (Mumbai) - The UK Chancellor of the Exchequer Osborne was on the wires immediately after the release of the UK Q3 GDP, blaming the global risks for the slower growth rate.

Key Quotes

UK continues to outperform other major economies

GDP data shows that the UK is still facing clear global risks, which means we go on with tough decisions to live within our means

UK GDP growth plummets to 0.5% in 3Q15, below consensus expectations – ING

James Knightley, Research Analyst at ING, notes that the UK 3Q15 GDP rose 0.5%QoQ versus 0.7% growth in 2Q15 which leaves the annual rate of growth at 2.3%YoY.
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Gold extends side-trend in Europe, near $ 1166

Gold’s gradual ascent from daily lows near 1162 levels lost steam just ahead of the daily pivot, as a broadly muted US dollar and wavering European equities failed to provide further impetus.
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