Breaking: UK GDP contracts -2.0% QoQ in Q1 vs. -2.5% expected, GBP/USD unfazed

• UK GDP arrived at -5.8%% MoM in March vs. +0.2% expected.
• UK GDP fell -2.0% QoQ in Q1 vs. -2.5% expected.
• GBP/USD holds on to the latest recovery attempt post-data.

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).