UK Growth Numbers ‘Not Great’

Last week, the most recent UK GDP report was published, revealing growth numbers as 'not great' with only a modest growth of 0.1% in the preliminary Q1 figures. However, there was a decline of 0.3% in the monthly figure.

On a positive note, the Manufacturing sector showed encouraging signs as both Manufacturing and Industrial.

Production

Production experienced a 0.7% increase in March, surpassing expectations. Additionally, the Trade Balance also performed slightly better than anticipated. Despite these favourable indicators, the pound faced challenges, as GBPUSD closed below 1.2450, a drop from its previous level of over 1.2600 before the Bank of England meeting. The pound's decline can be attributed, at least in part, to the prevailing low-risk appetite in the broader market.

Sourced from BBC.

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