UK Preliminary GDP beats estimates with 1% QoQ in Q4, GBP/USD unfazed

• Quarterly GDP for the UK grew 1% in Q4 vs. 0.5% expected.
• UK GDP arrived at 1.2% MoM in Dec vs. 1% expected.
• GBP/USD is off the lows on the upbeat UK GDP but remains around 1.38.

The British economy expanded 1% QoQ in the final quarter of 2020 when compared to a massive 16% growth in Q3 and +0.5% expectations. On an annualized basis, the Kingdom’s GDP arrived at -7.8% in Q4 vs. -8.1% expected and -8.6% last.

The UK GDP monthly release showed that the economy expanded-more-than-expected in December, arriving at 1.2% vs. 1% expectations and -2.6% previous.

more to come ,.,.