The Office for National Statistics in the UK released data on the growth of the country's gross domestic product (GDP) this Thursday morning, which was very positive and better than market expectations.
The data showed that the British economy recorded a real GDP growth of 0.2% during March, while markets had anticipated that the real GDP would remain stable at 0.0%. The previous reading had recorded a growth of 0.5% in February.
It is noteworthy that this indicator measures the change in inflation-adjusted value of all goods and services produced by the British economy, and this indicator is very important as it serves as the broadest gauge of economic activity and the primary measure of the health of the economy.
This coincided with the release of the preliminary GDP reading for the UK on a quarterly basis, which showed a growth of 0.7% by the end of the first quarter of this year. This was better than market expectations of a GDP increase of 0.6%, which is higher than the previous reading that recorded a growth of 0.1%.
