The UK’s Office for National Statistics released revised Q2 economic growth data on Tuesday morning, showing mixed results compared to market forecasts.

GDP grew 0.3% quarter-on-quarter in Q2, in line with the preliminary reading and analysts’ expectations, after a strong 0.7% growth in Q1.
On an annual basis, the economy expanded 1.4% by the end of Q2, exceeding both the earlier estimate and market expectations of 1.3% growth.

Copper Falls as China’s Industrial Contraction Continues for Sixth Straight Month

Copper prices declined on Tuesday amid growing investor concerns over weak demand following data that showed China’s industrial activity contracted for the sixth consecutive month.

On the London Metal Exchange, three-month copper futures fell 0.65% to $10,348.5 per ton as of 12:40 p.m. Mecca time.
This drop follows a 2% weekly gain last week, supported by U.S.-based Freeport-McMoRan’s announcement that it had halted production at Indonesia’s Grasberg mine, the world’s second-largest copper mine, after a mudslide killed several workers.

Economic data released today showed China’s manufacturing PMI rose to 49.8 in September from 49.4 in August, but remained below the neutral 50-point threshold separating growth from contraction—confirming continued pressure on China’s industrial sector.

These developments paint a dual picture of the global economy:

On one side, the UK economy bolsters market confidence by exceeding annual growth expectations.
On the other hand, investor concerns persist over China’s slowdown and its drag on commodity prices.

Between European growth and Asian challenges, the global economic outlook remains closely tied to upcoming data and central bank policy decisions.

UK growth surpasses expectations

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