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622 days ago • Posted by Paul de La Baume

#UK economy contracts in Q2 #markets #GBP #stocks

UK GDP figures published this morning show the economy contracted by 0.1%, less than the 0.3% contraction expected. It is a deceleration from its expansion of 0.8% in the first quarter. It suggests growth is stalling as consumers face rising costs of living due to inflation and rising interest rates. The GBP fell slightly against the USD in response. The GBPUSD pair remains in a downward trend in a range of 1.2060 and 1.2255. 

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