UK: Weak economic releases overall - BBH

Sandeep Kanihama FXStreet Contributor

Research Team at BBH notes that in the UK, manufacturing output fell 0.9%, which was a little more than the market expected.

Key Quotes

“A pullback had been expected after the heady rise in December which was revised to 2.2% from 2.1%. Headline industrial output fell 0.4%, a tad less than the market expected.”

“Construction spending also disappointed. It fell 0.4% in January; twice the loss the median forecast anticipated but also follows a strong December gain (1.8%). Lastly, helped by the 1.6% rise in exports and a smaller 0.9% rise in imports, the UK reported a GBP1.966 bln trade deficit. The median expectation in the Bloomberg survey was for a GBP3.1 bln shortfall after GBP2.026 bln deficit in December (which was initially reported as a GBP3.304 bln deficit).”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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