- Prior +0.1%
- GDP +0.4% vs +0.2% y/y expected
- Prior +0.2%
The pound is up slightly on the numbers here as the June monthly GDP beat is helping to feed into a more positive Q2 picture overall. As a whole, UK GDP is now estimated to be just 0.2% below its pre-pandemic level in Q4 2019. This is a better than expected development but it still doesn't take away concerns surrounding the UK economy and stagflation risks to the outlook.