UK GDP rebounds by 0.8% in January, a big beat

• UK GDP arrived at 0.8% MoM in January vs. 0.2% expected.
• GBP/USD rebounds to test 1.3100 on upbeat UK GDP.

The UK GDP monthly release showed that the economy expanded more than expected in January, arriving at 0.8% vs. 0.2% expectations and -0.2% previous.

more to come ....

About UK GDP

The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).