The Pound has fallen this morning following the release of the latest UK GDP figures that indicate that the UK slipped back into recession in the first quarter of 2012. According to the Office for National Statistics (ONS) Gross Domestic Product (GDP) fell 0.2% quarter on quarter and was unchanged year on year. The contraction in UK GDP came as a surprise to many analysts who had been expecting a small amount of growth in the region of 0.1% QoQ. Today’s GDP figures are a preliminary estimate based on about 40% of the data that will be used by the ONS to reach the final GDP figure and many will be hoping that the reading could be revised higher at a later date.
The following rates are shown for indicative purposes only. Please note the rate you are able to achieve will depend on the amount of currency being purchased. Please do not hesitate to contact the dealing team on +44 (0) 1695 581 669 for a live quote.