GBP/USD bounces-off lows as UK GDP beats estimates with -2.6% in November

• UK GDP arrived at -2.6% MoM in Nov vs. -5.7% expected.
• GBP/USD is off the lows on the upbeat UK GDP but below 1.37.

The UK GDP monthly release showed that the economy contracted less-than-expected in November, arriving at -2.6% vs. -5.7% expectations and 0.6% previous.

more to come ...

About UK GDP

The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).