GDP data confirm modest recovery in UK economy

8:08 AM 12 January 2024

07:00 am GMT - UK, GDP data for November (m/m): Current: 0.3%. Forecast: 0.2%. Previously: -0,3%

UK manufacturing production (m/m) for November: Current: 0.4% (Forecast: 0.3%; Previously: -1.2%)

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The data confirms a modest recovery in the British economy at the end of last year. This theoretically gives the BOE additional room to hold down interest rates, although the consumer side remains weak.

The GBPUSD pair is losing slightly after the data reading. Source: xStation

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