UK Final GDP arrives at 0.8% QoQ in Q1 2022, meets estimates

Dhwani Mehta FXStreet

The UK economy expanded 0.8% on quarter in the first quarter of 2022, confirming the 0.8% growth reported in the first readout and meeting forecasts of 0.8%, the final revision published by the Office for National Statistics (ONS) showed Thursday.

The annual figures showed that the UK GDP rose by 8.7% in Q1 vs. 8.7% previous and 8.7% expected.

Meanwhile, the Current Account data for the first quarter of 2022 came in at GBP-51.7B vs. GBP-39.8B expected and GBP-7.3B previous.

Market reaction

As of writing, GBP/USD is holding higher ground near 1.2150, 0.18% up on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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