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UK economy has recovered after the "mini-budget" crisis

UK economy has recovered after the "mini-budget" crisis | 05 April 2023

05 April 2023, GBP/USD

UK economy has recovered after the "mini-budget" crisis

GBPUSD trading plan:

Britain's economy looks set to have grown in early 2023 after firms in the dominant service sector in March reported the strongest new business expansion in a year and the best export performance since at least 2014, an industry fresh survey showed. Adding to signs of recovery in the economy final reading of the S&P Global/CIPS UK Services Purchasing Managers' Index of 52.9 was below February's 53.5 but above the 50-mark denoting growth for a second month in a row. It was also a touch higher than a preliminary March reading of 52.8 and contrasted with a more downbeat picture for the smaller manufacturing sector last month.

Investment idea: buy 1.2450 and take profit 1.2531.

David Johnson
Analyst of «FreshForex» company
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