The UK economy bounces back - Market Insight 11th August 2023

August 11, 2023
The UK economy bounces back - Market Insight 11th August 2023

It was green lights this morning for the UK economy. Every piece of data was ahead of expectations. Highlights were quarter on quarter GDP growth of 0.2% versus and expected flat reading, industrial and manufacturing production smashing estimates, and an improved trade balance. The rebound has partly been attributed to the Kings coronation.

This caused an immediate jump in GBP rates although the leap has run out of steam for the moment.

This mornings data caps off what's been a fairly quiet week for market news and with only the Michigan consumer sentiment index out later in the US.

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US: 15:00 Michigan Consumer Sentiment Index

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