• Quarterly GDP for the UK came in at 0.1% in Q1 vs. 0.1% expected.
• UK GDP arrived at -0.3% MoM in March vs. 0% expected.
• GBP/USD defends 1.2500 on mixed UK GDP data.

The UK economy grew 0.1% QoQ in the three months to March, compared with a 0.1% expansion booked in the final quarter of 2022 and 0.1% expectations.

On an annualized basis, the UK GDP expanded 0.2% in Q1 vs. 0.2% expected and a 0.6% growth registered in the previous quarter.