BREAKING: UK GDP in line with expectations 🎯

07:00 AM BST, United Kingdom - GDP data:

GDP (Q1): actual 0.7% QoQ; forecast 0.7% QoQ; previous 0.1% QoQ;
GDP (Q1): actual 1.3% YoY; forecast 1.3% YoY; previous 1.5% YoY;

The UK economy expanded at a rate of 0.7% q/q in the first quarter of this year. This marks a notable rebound compared to previous periods. The expansion was driven mostly by the services sector.

07:00 AM BST, Germany - Retail Sales Data for May:

German Import Price Index: actual -1.1% YoY; forecast -0.8% YoY; previous -0.4% YoY;
German Import Price Index: actual -0.7% MoM; forecast -0.3% MoM; previous -1.7% MoM;
German Retail Sales: actual 1.6% YoY; forecast 3.3% YoY; previous 2.3% YoY;
German Retail Sales: actual -1.6% MoM; forecast 0.5% MoM; previous -1.1% MoM;

Retail sales data came in weak once again, falling short of expectations. On a monthly basis, we saw another decline — this time by -1.6% m/m — significantly below the expected increase of 0.5%.

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