Breaking: UK GDP Flat in July, Below 0.2% Growth Forecast

The UK economy stagnated in July, recording 0% growth compared to the market expectation of a 0.2% rise, according to the latest data from the Office for National Statistics. This makes no change from the revised figure of June, as economic activity is still struggling.

Other key economic indicators disappointed as well: the month-over-month Industrial Production declined 0.8%, while the Manufacturing Production decreased by 1.0%, shy of the estimates for both. UK Goods Trade Balance also disappointed at -£20.003 billion compared to -18.1 billion forecast.

With such disappointing UK GDP, the Pound Sterling is unfazed. The pair, GBP/USD, is trading 0.16% higher, at the time of writing, hovering around the 1.3100 level.