The UK GDP monthly release showed 0.1% contraction in August versus 0.0% expected and +0.4% previous.

Meanwhile, Index of services (August) arrived at +0.4% 3m/3m vs. +0.1% expected and +0.3% last.

The Cable was little changed on the data release to trade near 1.2235 region, off the daily highs of 1.2249.

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).