Investing.com - The UK economy expanded more expected in the fourth quarter, official data confirmed on Friday.
In a report, the Office for National Statistics (ONS) said gross domestic product expanded by a seasonally adjusted 0.5% in the three months to December. an improvement on the prior quarter’s growth of 0.4%. Economists had predicted fourth quarter growth to match the third quarter.
Year-over-year, UK economic growth expanded 1.5% in the fourth quarter, economists had predicted growth of 1.4%.
Immediately following the report, GBP/USD was trading higher at 1.4278 from around 1.4238 ahead of the release of the data, EUR/GBP was at 0.8730 compared to 0.8750 and GBP/JPY changed hands at 155.55, compared to the prior 155.18.