FXstreet.com (Barcelona) - Instead of declining -0.5% in Q2 (QoQ) as expected, the UK GDP contracted – 0.4%, though the annualized figure came at -0.5%, in line with consensus.
Also better than expected is the Total Business Investment in Q2, up from +1.9% to +3.1% (YoY) instead of the consensus drop to +1.7%. The quarterly change was a +0.9% rise, while the Reuters median forecast was pointing to -1.5%.
However, the better than expected data was balanced with the widening of the current account deficit, from £-15.4B to £-20.8B in Q2, against expectations of tightening to £-12.4B.
Also better than expected is the Total Business Investment in Q2, up from +1.9% to +3.1% (YoY) instead of the consensus drop to +1.7%. The quarterly change was a +0.9% rise, while the Reuters median forecast was pointing to -1.5%.
However, the better than expected data was balanced with the widening of the current account deficit, from £-15.4B to £-20.8B in Q2, against expectations of tightening to £-12.4B.
