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    UK GDP Up 0.3% – In line with expectations


    GBPUSD, H1   

    The NIESR (National Institute of Economic and Social Research) confirmed its GDP estimate for the UK at 0.3% for the three months to April. This was in line with expectations, with the previous figure upgraded to 0.4% from 0.3%.

     The UK continues to grow but it’s stumbling along, the Brexit  debate and the global outlook continues to hang over growth prospects.  This is no surprise and ammunition for both sides in the EU referendum debate.

    Following the poor production data earlier today sterling came under pressure but has recovered, GDPUSD currently trades at 1.4440 whilst the EURGBP is now over the 0.7900 level.


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    Stuart Cowell

    Market Analyst 


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