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11 Mar 2022
UK GDP rebounds by 0.8% in January, a big beat
- UK GDP arrived at 0.8% MoM in January vs. 0.2% expected.
- GBP/USD rebounds to test 1.3100 on upbeat UK GDP.
The UK GDP monthly release showed that the economy expanded more than expected in January, arriving at 0.8% vs. 0.2% expectations and -0.2% previous.
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).