Britain’s Q2 GDP rose 0.4% quarter-on-quarter, driven by investment and consumption, while June’s monthly growth exceeded expectations.
The UK economy expanded 0.4% in the second quarter, matching consensus and topping the Bank of England’s 0.3% forecast. Growth was supported by gross fixed capital formation and household spending, though government expenditure dragged on activity.
June’s monthly GDP rose 0.3%, defying expectations of a 0.1% decline, with services output leading the gain. The data reflects resilient domestic demand but is unlikely to alter near-term BoE policy expectations, as July’s inflation report remains the key focus.
GBP/USD showed little reaction, trading near 1.3500 as markets await next week’s CPI release for further direction.