The UK Gross Domestic Product stood at -2.9% in January, improving the -4.9% expected by the market. In December the indicator rose 1.2%. January is the first drop seen since November and the sharpest since April 2020.
Industrial production fell 1.5% monthly in January, worsening the 0.6% decline expected after rising 0.2% in December. This is the first recorded decline since last April.
Manufacturing production fell 2.3% monthly, a result that worsens the estimated 0.8% decline. In December, the indicator rose 0.3%. January is the first decline recorded since April 2020.
GBP / USD reaction
The pound has fallen following the data to new lows for the day against the dollar at 1.3943. Previously, at the start of the Asian session, the GBP/USD it had reached eight-day highs at 1.4005. At time of writing, the pair is trading above 1.3945, shedding 0.34% daily.
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