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

You may also like

The president of the USA
Markets
Joshua

The president of the USA

US President Donald Trump said on Saturday that he had signed letters to 12 countries detailing the various levels of