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Britain's economy looks set to go into recession

Britain's economy looks set to go into recession | 13 October 2022

13 October 2022, GBP/USD

GBPUSD trading plan:

Britain's economy looks set to go into recession as data showed it unexpectedly shrank in August, underscoring the challenge for Prime Minister Liz Truss to make good on her promises to speed up growth. Weakness in manufacturing and maintenance work in North Sea oil and gas fields contributed to a 0.3% fall in gross domestic product from July, and the report also showed how a jump in inflation was hitting consumers. July's increase in output was revised down to 0.1% from a previous estimate of 0.2%, and in the three months to August GDP fell 0.3%, its first decline since early 2021 when the country was mired in the coronavirus crisis.

Investment idea: range 1.1025 -1.1125.

David Johnson
Analyst of «FreshForex» company
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