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Britain's economy avoided a recession

Britain's economy avoided a recession | 03 April 2023

03 April 2023, GBP/USD

GBPUSD trading plan:

Britain's economy avoided a recession as it grew in the final months of 2022. Despite the improvement, British economic output remained 0.6% below its level of late 2019, the only G7 economy not to have recovered from the COVID-19 pandemic. Britain's dominant services sector rose by 0.1%, boosted by a nearly 11% jump for travel agents, echoing other data which has pointed to a surge in demand for holidays. The International Monetary Fund forecast in January that Britain would be the only Group of Seven major advanced economy to shrink in 2023, in large part because of an inflation rate that remains above 10%. Since then, a string of economic data has come in stronger than expected by investors.

Investment idea: buy 1.2300 and take profit 1.2388.

David Johnson
Analyst of «FreshForex» company
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