U.K. Q2 GDP Growth Surprises on Upside; Post-Brexit Data Analysis

UK GDP growth for the second quarter exceeded expectations, with official data indicating an increase of 0.6%, up from 0.4% in the first quarter. Analysts had anticipated a quarter-on-quarter growth of 0.4%. On a year-on-year basis, growth was recorded at 2.2%, surpassing the forecast of 2.0% and matching the Q1 growth. This information comes in the wake of Britain’s decision to leave the European Union following a referendum held on June 23.