Britain Recovers From Last Quarter Contraction
Pure FX
27.04.2011
The most important release this morning is UK GDP data. Britain has recovered from last quarter’s contraction according to the latest figures from the Office for National Statistics – with the economy growing 0.5% in the first three months of 2011. This meets market forecasts.
The data should also bring a smile to George Osborne’s face since it indicates his budget plans are driving growth.
In other data British manufacturing CBI figures proved disappointing in the last 24 hours – diving to -11 last month compared to +5 previous. Leading economists meanwhile have forecast that manufacturing conditions are going to worsen throughout 2011.
Pure FX
27.04.2011
The most important release this morning is UK GDP data. Britain has recovered from last quarter’s contraction according to the latest figures from the Office for National Statistics – with the economy growing 0.5% in the first three months of 2011. This meets market forecasts.
The data should also bring a smile to George Osborne’s face since it indicates his budget plans are driving growth.
In other data British manufacturing CBI figures proved disappointing in the last 24 hours – diving to -11 last month compared to +5 previous. Leading economists meanwhile have forecast that manufacturing conditions are going to worsen throughout 2011.
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