020 7898 0500The only UK economic data release of note yesterday came in the form of the Confederation for British Industry’s monthly industrial orders balance. The figure fell to 10 in February from 14 the previous month which was in line with expectations. 30% of manufacturers said order books were above normal last quarter, with 20% saying they were below normal.
Sterling made some gains against the euro and dollar yesterday, although the move against the greenback was only slight. It will be interesting to see what the rest of the week has in store for the pound, as after a relatively quiet start to the week, things pick up for the rest of it. Today we have the unemployment rate for January and the public sector net borrowing figure.
Tomorrow is the main release of the week for the UK, with the second estimate of the GDP growth rate for the fourth quarter of 2017 set for release. This will give us a solid indication of how the UK economy performed towards the end of last year and might cause some sterling movement.
