UK Q1 GDP -1.5% q/q (vs. expected -1.6%, prior +1.3%)

March quarter economic growth in the UK -6.1% y/y

• expected -6.1%, prior -7.3%

For the March month alone GDP +2.1% m/m

• expected 1.5%, so a solid beat
• prior 0.4%

GBP is trading up a touch, the March month result is encouraging despite a difficult quarter. April should be better when that data comes given the success the UK is having with its vaccine rollout.

Full UK GDP report is here, link