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Market Analysis
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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.
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