U.K. GDP for the fourth quarter preliminary reading came in at 0.3%, higher than both advanced and median estimates of 0.1% and 0.2%. On the year, the reading slid to -3.3% from -3.2% advanced and -3.1% forecasted.

Looking into details, Private consumption climbed to 0.4% from 0.1% and estimates of 0.3%; government spending spiked to 1.2% from the revised 0.4% and forecasts of 0.2%; gross fixed capital formation slumped to -3.1% from 1.6% and projections of 0.2%; exports jumped to 3.7% from 0.1% and 3.4% estimated; imports rose to 4.1% from 1.3% and 4.6% predicted; and index of services for the 3 months ending December climbed to 0.5% from 0.1%.