- The UK economy expanded at a softer-than-expected pace in February.
- GBP/USD remains close to 1.3000.
Data released by the UK Office for National Statistics on Monday showed that gross domestic product real GDP grew 0.1% monthly in February. This figure comes after January’s expansion of 0.8% and fell short of the market’s expectation of 0.3%.
Other data from the UK revealed that manufacturing and industrial production contracted 0.4% and 0.6%, respectively, in the same period. By last, UK goods trade balance improved to £20.594m sterling from the 23,898 million pounds sterling seen in January.
market reaction
British pound is left on the defensive after these numbers, with GBP/USD posting small daily losses at 1.3016.
Source: Fx Street
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