GBP/USD (a 4-hour chart)
UK GDP increased by 0.3% in the Ist quarter of 2013 compared to the IV quarter of 2012. These data were published by the country's National Bureau of Statistics on Thursday. The economists predicted just such a growth rate. In annual terms, the UK's GDP grew by 0.6% according to the final data which also coincided with the analysts’ forecasts and the preliminary data.
The growth of the British economy in a I quarter of 2013 was due to increased activity in the services sector (the UK service sector usually makes a significant contribution to the evolution of GDP) and the oil and gas a quarrying recovery in the North Sea.
At the same time, consumption spending grew in the first three months of 2013with the slowest pace since the III quarter of 2011., rising just 0.1% qoq. Despite this, consumption spending have made a considerable contribution to GDP dynamics in the I quarter of 2013., which also contributed to the increase in inventory.
UK GDP is growing slowly, but against their European counterparts - France and Germany, it looks brilliant.