UK January monthly GDP +0.2% vs +0.2% m/m expected

• Prior -0.1%
• GDP -0.1% vs -0.1% 3m/3m expected
• Prior -0.3%
• Services +0.2% vs +0.2% m/m expected
• Prior -0.1%
• Industrial output -0.2% vs 0.0% m/m expected
• Prior +0.6%
• Manufacturing output 0.0% vs 0.0% m/m expected
• Prior +0.8%
• Construction output +1.1% vs -0.1% m/m expected
• Prior -0.5%

The readings are mostly matching estimates with the services sector growing slightly on the month. That helps to see the UK economy pull off a slight growth to start the new year. The PMI data in February is also encouraging and all of this should allay any recession fears for now at least.

This article was written by Justin Low at www.forexlive.com.