Breaking: UK Preliminary GDP expands 0.8% QoQ in Q1 vs. 1.0% expected

• Quarterly GDP for the UK expanded by 0.8% in Q1 vs. 1.0% expected.
• UK GDP arrived at -0.1% MoM in March vs. 0.1% expected.
• GBP/USD hits fresh two-year lows below 1.2200 on poor UK GDP.

more to come ...

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).