Breaking: UK GDP shrinks 20.4% QoQ in Q2 vs. -20.5% expected, GBP/USD unmoved

• UK GDP arrived at +8.7% MoM in June vs. +8.0% expected.
• UK GDP fell 20.4% QoQ in Q2 vs. -20.5% expected.
• GBP/USD holds on to the latest recovery attempt post-data.

more to come ....

About UK GDP

The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).