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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 07 March 2023

07 March 2023, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

British construction activity grew at its fastest pace in nine months in February after two months of declines, as a rebound in commercial work and civil engineering helped offset a continued fall in house-building, a fresh survey showed. The S&P Global/CIPS UK Purchasing Managers' Index for the construction sector jumped to 54.6 in February, up from 48.4 in January, its highest since May 2022. The sharp rebound mirrors a similar increase in Friday's services PMI, which grew at its fastest pace in June, easing many analysts' concerns that Britain's economy was slipping into recession.

Investment idea: buy 1.2000 and take profit 1.2111.

David Johnson
Analyst of «FreshForex» company
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