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04-12-2024

UK GDP rises 0.1% MoM in February, as expected

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  • UK GDP expanded 0.1% MoM in February vs. 0.1% estimate.
  • GBP/USD remains below 1.2650 after the UK data.

 

The UK economy expanded 0.1% in February, having rebounded 0.3% in January, the latest data published by the Office for National Statistics (ONS) showed on Friday. The market consensus was for an expansion of 0.1% in the reported period.

 

Meanwhile, the Index of services (February) came in at 0.2% 3M/3M vs. January’s 0% print.

 

Other data from the UK showed that Industrial Production and Manufacturing Production rose 1.1% and 1.2%, respectively, on a monthly basis, in February.

 

Separately, the UK Goods Trade Balance came in at GBP-14.212 billion MoM in February vs. GBP-14.50B expected and GBP-14.097 previous.

 

The Pound Sterling is feeling the pull of gravity on the mixed UK economic data. At the press time, GBP/USD is trading 0.10% lower on the day at 1.2535.

Lebih Liputan

EUR/USD clings to mild losses below 1.0770, investors await Eurozone inflation, US PMI data.
Australian Dollar receives upward support from higher ASX 200 amid a firmer US Dollar
GBP/USD holds above the 1.2800 mark, eyes on UK labour market, US CPI data
Gold wraps Monday’s session at around $2,180 as traders anticipate US inflation report
Australian Dollar maintains position after intraday losses amid a stable US Dollar
Escalating Tensions and Inflation Focus: Global Market Outlook (January 15-19)

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