- UK GDP arrived at 0.8% MoM in May vs. 1.7% expected.
- GBP/USD remains little changed on the downbeat UK GDP.
The UK GDP monthly release showed that the economy expanded less-than-expected in May, arriving at 0.8% vs. 1.7% expectations and 2.3% previous.
Meanwhile, the Index of Services (May) came in at 3.9% 3M/3M vs. 1.4% prior.
The cable keeps its range around 1.3775 on the UK growth numbers. The spot trades 0.11% lower on the day.
About UK GDP
The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).
