UK GDP expands 0.4% MoM in May vs. 0.2% expected

UK GDP expands 0.4% MoM in May vs. 0.2% expected

  • UK GDP arrived at 0.4% MoM in May vs. 0.2% estimate.
  • GBP/USD remains above 1.2850 after the UK data.

The UK economy grew 0.4% over the month in May after stagnating in April, the latest data published by the Office for National Statistics (ONS) showed on Thursday. The data beat market expectations of 0.2% in the reported period.

Meanwhile, the Index of services (May) came in at 1.1% 3M/3M vs. April’s 0.9% print and 1.0% forecast.

Other data from the UK showed that the monthly Industrial Production and Manufacturing Production rebounded 0.2% and 0.4%, respectively, in May. Both readings matched the consensus forecast.

Separately, the UK Goods Trade Balance came in at GBP-17.9717 billion MoM in May vs. GBP-16.18 billion expected and GBP-19.442 billion prior.

Market reaction to the UK data

The Pound Sterling is unfazed by the UK economic data. At the press time, GBP/USD is trading 0.15% higher on the day at 1.2861.

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.

 USDEURGBPJPYCADAUDNZDCHF
USD -0.06%-0.10%0.02%-0.01%-0.20%-0.22%-0.06%
EUR0.06% -0.03%0.09%0.07%-0.13%-0.14%0.02%
GBP0.10%0.03% 0.12%0.10%-0.10%-0.12%0.06%
JPY-0.02%-0.09%-0.12% -0.04%-0.23%-0.28%-0.08%
CAD0.01%-0.07%-0.10%0.04% -0.22%-0.22%-0.05%
AUD0.20%0.13%0.10%0.23%0.22% -0.03%0.16%
NZD0.22%0.14%0.12%0.28%0.22%0.03% 0.18%
CHF0.06%-0.02%-0.06%0.08%0.05%-0.16%-0.18% 

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

 

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