The UK GDP second estimate showed that the economy contracted by 0.2% q/q in the second quarter of 2019, the same as that seen in the first readout while matching the consensus forecasts.
While on an annualized basis, the UK economy’s growth rate arrived at 1.3% in Q2, beating the expectations of 1.2% and up from 1.2% previous reading.
Separately, the UK Total Business Investment data arrived at -0.4% q/q in Q2 while at -1.4% y/y for the same period. Both the figures came in above the consensus forecasts.
Meanwhile, the UK Q2 Current Account deficit stood at GBP -25.20 billion vs. GBP -19.500 billion expected and GBP -33.08 billion last.
The pound remained unfazed by the mixed UK GDP revision, with the Cable holding onto gains above the 1.23 handle.
Source : FX Street