UK GDP grew 0.4% qoq in Q2, doubled that of Q1’s 0.2% qoq and met expectations. Year-over-year, GDP grew 1.3% yoy in Q2, also matched expectation. Nonetheless, June GDP grew only 0.1% mom, below expectation of 0.2% mom, notably slower than May’s 0.3% mom.
Total business investment rose 0.5% qoq in Q2, much stronger than expectation of 0.2% qoq and an impressive rebound from Q1’s -0.4% qoq.
Industrial production rose 0.4% mom, 1.1% yoy in June versus expectation of 0.2% mom, 1.9% yoy. Manufacturing production rose 0.4% mom, 1.5% yoy versus expectation of 0.3% mom, 1.9% yoy.
Visible trade deficit narrowed to GBP -11.4B versus expectation of -11.9B.
There is little reaction to the set of data. Sterling remains the third weakest one for today, just after Australia Dollar and Euro. For the week, the Pound is also the second weakest after New Zealand Dollar.
