Commenting on sterling and UK equity markets’ muted reaction to UK GDP, Mike Owens, Global Sales Trader at Saxo Markets, said: “Although UK GDP registered strong growth, the numbers are nothing to shout about considering where we’ve come from. As expected, the biggest contributions were consumer services that had previously been hampered by Covid-19 restrictions. Industrial production fell 1.3% Month-on-Month against an expected 1.2% gain although this will hopefully only be temporary. Sterling and UK equity markets have had a muted reaction to the figures and it’ll be a good result if the UK economy manages to grow to pre-pandemic size by the end of the year.”