- UK GDP arrived at 0% MoM in February vs. 0.1% expected.
- GBP/USD holds lower ground below 1.2500 on downbeat UK GDP.
The UK Gross Domestic Product (GDP) monthly release for February, reported this Thursday, showed that the British economy stagnated at 0% in February, compared with 0.1% expectations and a 0.3% prior reading.
Meanwhile, the Index of services (February) came in at 0.1% 3M/3M vs. -0.2% estimate and 0% 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 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).
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