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- UK: Real GDP grows by 0.1% in February vs. 0.3% expected
UK: Real GDP grows by 0.1% in February vs. 0.3% expected
- UK economy expanded at a softer pace than expected in February.
- GBP/USD stays within a touching distance of 1.3000.
The data published by the UK's Office for National Statistics showed on Monday that the real Gross Domestic Product grew by 0.1% on a monthly basis in February. This print followed January's expansion of 0.8% and missed the market expectation of 0.3%.
Other data from the UK revealed that the Manufacturing Production and Industrial production contracted by 0.4% and 0.6%, respectively, in the same period. Finally, the UK's Goods Trade Balance improved to £-20.594 billion from £-23.898 billion in January.
Market reaction
The British pound stays on the back foot after these readings and the GBP/USD pair was last seen posting small daily losses at 1.3016.
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