The UK first quarter GDP preliminary reading revised upwards to 0.3% from 0.2% inline with expectations while on the year also improved to -0.2% inline with estimates from -0.3%.

The detailed GDP, exports worsened to 0.0% which was presumed in markets and worse than the prior 3.8% while imports also fell to 1.4% from 4.7%, yet better than the forecasted reading of 0.4%.

Private consumption declined to 0.0% from 0.4% and better than the expected -0.2% while government spending slipped to 0.5% from 1.0%, worse than the presumed reading of 0.6%.