UK Final GDP arrives at 0.8% QoQ in Q1 2022, meets estimates

The UK economy expanded 0.8% on quarter in the first quarter of 2022, confirming the 0.8% growth reported in the first readout and meeting forecasts of 0.8%, the final revision published by the Office for National Statistics (ONS) showed Thursday.

The annual figures showed that the UK GDP rose by 8.7% in Q1 vs. 8.7% previous and 8.7% expected.

Meanwhile, the Current Account data for the first quarter of 2022 came in at GBP-51.7B vs. GBP-39.8B expected and GBP-7.3B previous.

Market reaction

As of writing, GBP/USD is holding higher ground near 1.2150, 0.18% up on the day.