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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 20 May 2022

20 May 2022, GBP/USD

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British manufacturers reported the joint-strongest growth in orders this month since records began, while output rose at the fastest rate since July, figures from the Confederation of British Industry showed. Export orders jumped to +19 in May from -9, their highest since January 2018, and the CBI's gauge of output over the past three months rose to a 10-month high of +30 from +19. "Manufacturers have reported output growth and order books improving in May. But cost pressures remain acute and are pushing manufacturers to raise prices," CBI deputy chief economist Anna Leach said. The CBI's director-general, Tony Danker, has called on the government to act now to support households which are already suffering "real hardship", and to commit to long-term tax breaks for business investment.

Investment idea: buy 1.2452 and take profit 1.2511.

David Johnson
Analyst of «FreshForex» company
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