UK GDP expands 1.8% MoM in May vs. +5.0% expected, GBP/USD unfazed

• UK GDP arrived at +1.8% MoM in May vs. +5.0% expected.
• GBP/USD keeps the red below 1.2550 on downbeat data

The UK GDP monthly release showed that the economy expanded less-than-expected during May, arriving at +1.8% versus +5.0% expected and -20.4% previous.

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).