ALREADY IN AN HOUR: The UK Business Activity Indices
Dear traders,
Today, at 11:30 (Kiyv), there will be a report on activity in the UK manufacturing sector for March, on Wednesday – a report on business activity in construction, and on Thursday – a report on business activity in the services sector.
According to forecasts, the index of business activity in the manufacturing sector (PMI) of Great Britain will fall to 54.8 after the value of 55.2 last month, the index of business activity in the construction sector of the UK will slightly decrease to 51.2 after 51.4, and the index of business activity in the UK, the leading services sector of the UK, will fall to 54.2 after a value of 54.5 last month.
On Friday in Amsterdam, the head of the Bank of England, Mark Carney, will speak at the International Conference on Climate Change.
Last month, the Bank of England voted to keep the interest rate at the same level, but two officials suddenly voted to raise it. This speaks for a tightening of monetary policy in May. This will be just the second increase in the interest rate since the financial crisis in 2008.
The political situation in Europe will also remain in focus. This especially concerns the Brexit talks, which entered a decisive phase a year before the UK’s official withdrawal from the EU.
The pace of growth in the UK economy lags behind the global pace of economic recovery. However, the British economy managed to avoid the worst scenario, which was predicted after the vote in 2016.
Have a nice day and profitable trade!
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