UK GDP improves to 0.5% over three months: NIESR

A monthly estimate of UK economic output from the National Institute of Economic and Social Research (NIESR) has shown a slight improvement in growth, with a 0.5% expansion in the three months to October compared with the previous Office for National Statistics reading of 0.4% in the three months to September. The same think-tank is predicting a real GDP growth rate of 0.5% for the last three months of 2017. The central reason for this improvement in growth is being chalked up to increasing international demand thanks to a weaker home currency making UK goods and services more attractive. Following the news, Sterling has strengthened against major currencies, exacerbating the day's decline in the FTSE index. UK government debt has continued to see yields track upwards as markets sell safer assets in favour of taking on more risk.