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Real GDP grows 0.1% in February vs. 0.3% expected

  • 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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