UK Preliminary GDP beats estimates with -1.5% QoQ in Q1, GBP/USD unimpressed

• Quarterly GDP for the UK shrank 1.5% in Q1 vs. -1.6% expected.
• UK GDP arrived at 2.1% MoM in March vs. 1.4% expected.
• GBP/USD is little changed on the upbeat UK GDP while above 1.4100.

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).