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Coming up on Thursday, we have important GDP data coming out of the UK. The Manufacturing PMI will follow.
Both datasets are typically released 40 days after the month ends. Therefore, the statistics will not reflect the significant impact of the COVID-19 pandemic on the economy.
The print on Thursday, regardless of what the actual numbers are, still could stand out as the best for a considerable amount of months to come.
Expectations are for GDP to show a modest surge of 0.1% from the previous month.
February Business Activities
The UK economy started to pick up the pace in January 2020, after slowing in Q4 2019.
Consumer spending recorded growth in January, but the weather in February has likely halted economic activities due to the floods. There was also the beginnings of mounting concern surrounding the coronavirus, as it was in its early stages of spread.
PMI showed expansion at a snail-like pace in the services and manufacturing sector, while consumer spending remained mild as co...
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