UK GDP rebounds 0.5% MoM in February vs. 0.1% expected
Source Fxstreet
- UK GDP expanded 0.5% MoM in February, beating estimates.
- GBP/USD keeps range near 1.3000 after the UK economic data.
The UK economy expanded in February, with the Gross Domestic Product (GDP) rebounding 0.5% after recording no growth in January, the latest data published by the Office for National Statistics (ONS) showed on Friday. The market forecast was for a 0.1% growth in the reported period.
Meanwhile, the Index of services (February) came in at 0.6% 3M/3M versus January’s 0.4%.
Other data from the UK showed that monthly Industrial and Manufacturing Production jumped by 1.5% and 2.2%, respectively, in February. Both readings better market expectations.
Market reaction to the UK data
The upbeat UK economic data failed to inspire the Pound Sterling. At the press time, GBP/USD is trading 0.20% higher on the day near 1.3000.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Ripple (XRP) consolidated above the pivotal $2.00 level while trading at $2.05 at the time of writing on Friday, reflecting neutral sentiment across the crypto market.
Dogecoin started a fresh decline from the $0.1680 zone against the US Dollar. DOGE is consolidating and might extend losses below the $0.150 support. DOGE price started a fresh decline below the
XRP price started a fresh decline below the $2.120 zone. The price is now consolidating above $2.00 and remains at risk of more losses below $2.00. XRP price started a fresh decline below the $2.150
Ethereum price started a fresh decline below the $1,620 zone. ETH is now consolidating and might attempt to recover above the $1,620 resistance. Ethereum started a fresh decline below the $1,620 and
The Gold price (XAU/USD) holds steady on Friday after retreating from an all-time high of $3,358 as investors book profits during a long Easter weekend.
Related Instrument
