United Kingdom GDP grows by 0.1% MoM in May, as expected
The UK Gross Domestic Product (GDP) grew by 0.1% MoM in May, following a 0.1% decline reported in April, the latest data published by the Office for National Statistics (ONS) showed on Thursday.
The market forecast was for a 0.1% rise in the same period.
Other data from the UK showed that monthly Industrial Production came in at -0.5% MoM in May while Manufacturing Production increased by 0.1% during the same period.
Market reaction to the UK data
The Pound Sterling remains weak following the UK data. At the press time, the GBP/USD pair is losing 0.06% on the day to trade at 1.3531.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
On the eve of the 5% threshold, the U.S. Treasury sell-off presents a tough challenge for the market and the Federal Reserve
A sell-off in the bond market has pushed a key U.S. Treasury yield close to 5%, heightening concerns from Wall Street to Washington about the impact of rising borrowing costs on the U.S. economy.
McDonald’s Corporation stock hits 52-week low as dividend yield hits 6-year high
Filecoin Crypto’s RSI Hits 84 as Timeframes Send Mixed Signals
Bitcoin’s 4-year cycle faces scrutiny as ETF inflows reshape price behavior
Crypto prices
More
