09:03:19 30-09-2022
UK Q2 GDP improved to 0.2% QoQ, 4.4% YoY figures, GBP/USD retreats below 1.1150
UK’s final reading of the second quarter (Q2) Gross Domestic Product (GDP) offered a positive surprise on early Friday.
That said, the Q2 GDP improved to 0.2% QoQ versus -0.1% previous forecasts while the YoY figures increased to 4.4% versus 2.9% prior estimations.
Further details suggest that the UK’s Q2 Current Account deficit eased to £-33.768B compared to £-43.8B market forecasts and £-43.875B prior (revised from £-51.3B).
GBP/USD fails to cheer upbeat data
GBP/USD pares intraday gains after the upbeat UK data. That said, the cable pair drops to 1.1132 by the press time, up 0.13% on a day.
Also read: GBP/USD Price Analysis: Teases sellers above 1.1055 support, US PCE Inflation, UK GDP eyed