| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Germany | CPI, m/m | February | 1% | 0.8% | 0.8% |
| 07:00 | Germany | CPI, y/y | February | 8.7% | 8.7% | 8.7% |
| 07:00 | United Kingdom | Manufacturing Production (MoM) | January | 0% | -0.1% | -0.4% |
| 07:00 | United Kingdom | Manufacturing Production (YoY) | January | -5.7% | -5% | -5.2% |
| 07:00 | United Kingdom | Industrial Production (MoM) | January | 0.3% | -0.1% | -0.3% |
| 07:00 | United Kingdom | Industrial Production (YoY) | January | -4% | -4% | -4.3% |
| 07:00 | United Kingdom | GDP m/m | January | -0.5% | 0.1% | 0.3% |
| 07:00 | United Kingdom | Total Trade Balance | January | -7.150 | | -5.861 |
| 07:00 | United Kingdom | GDP, y/y | January | -0.1% | -0.1% | 0% |
| 07:45 | France | Trade Balance, bln | January | -14.93 | | -12.94 |
GBP rebounded against other major currencies in the European session on Friday, helped by the UK’s January GDP data, which showed Britain’s economy recovered at a faster-than-forecast pace in January.
The Office for National Statistics (ONS) reported the UK GDP grew by 0.3 percent m/m in January, following a 0.5 percent m/m contraction in December. Economists had predicted a 0.1 percent m/m growth in the UK’s GDP in January.
The January rebound in the British economy was driven by an increase in the services sector (+0.5 percent m/m). Meanwhile, the construction sector (-1.7 percent m/m) and manufacturing (-0.4 percent m/m) declined.
The latest data heightened hopes that the UK’s economy might escape a protracted recession and put pressure on the Bank of England (BoE) to continue policy tightening to tame inflation.