January British Monthly GDP Data

The British economy declined 0.1% a month in January, the official figure announced on Friday.

The British Bureau said that autumn was mainly due to the contraction of the production sector.

Economists who participated in Reuters' polls predicted that GDP in this country would increase 0.1%.

At 7:35 am in London, and immediately after the data release, British pounds were reduced by about 0.15% compared to the dollar to trade $ 1.293. Sterling was flat about the euro.

Meanwhile, the cost of long -term borrowings, which has soared highly over decades earlier this year, rose. The 20 -year -old British bond returns, known as GILTS, added 2 Basis points, while the 30 -year gold leaf yield increased by 4 Basis points.

Service production increased 0.1% a month in January, but it was slowed down by the 0.4% increase in December. After an increase of 0.5% a month, production decreased 0.9% a month. Meanwhile, monthly construction production fell 0.2% in December, down 0.2% in January.

The UK economy increased 0.1% in the fourth quarter, defeating expectations, and ONS data appeared last month. It was flat in 3Q.

Monthly GDP data has been grateful for the growth of 0.1% in October, 0.1% in November, 0.4% in December, and growth of services and production.

Friday's GDP Release will be the last data printing before the British Treasury's “Spring Statement” on March 26, and Rachel Leaves will announce her update on her plan for the British economy.

This statement provides an evaluation of the government's tax and expenditure plan, along with the economic prediction of the office for the British independent economic and financial forecasting liability.

There was a concern that the Financial Services Plan, which would be submitted in the fall and increase the tax burden of British companies, could affect investment, jobs and growth. Reeves says it is a one -time measure by defending tax hikes and is necessary to promote investment in public services.

The British Bank recorded its first interest rate cut in February, and further cuts occurred as the UK's growth forecast decreased from 1.5%to 0.75%in 2025.

The mayor expects that the UK Bank will hold a 4.5%interest rate at the Monetary Policy Committee meeting next week.

The central bank said it will determine how to balance the need to promote the risk of inflation and growth of US President Donald Trump's trade tariffs. Although the UK has not set a specific goal so far, steel and aluminum exports to the United States will be Trump's 25% imports.

Paul Dales, the leading British economist at Capital Economics, emphasized the weaknesses of the British economy before Friday's data was set up and the designated scientific uncertainty was fully set.

“Most of the weaknesses are only an investment recovery due to a surprisingly strong 0.4% m/m rise in GDP in December,” he said. In other words, the shame of December actually made the economy look stronger, and January in January made it look a bit weaker. The truth is probably slightly higher than zero. “

He added that the US President Donald Trump's blanket tariffs on steel and aluminum could only affect the British economy, although it was only effective this week.

“1.1% m/m of manufacturing production is partially reduced by 3.3% m/m,” he said. “Perhaps it can be related [to tariffs] As they are expected for a while. “

The British prime minister said in a parliament on Wednesday that the British prime minister hoped that the British could still avoid Trump's protectionist trade policy.

“I was disappointed by the global tariffs on steel and aluminum, but I would take a practical approach,” he said. “We are negotiating economic transactions that include tariffs when we succeed, but we will keep all the options on the table.”

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