Economic news

British Pound has a bad time

Data on Friday showed that manufacturing, industrial and construction output declined in January compared to the previous month. This suggests that the Brexit process probably coming to an end.

The euro strengthens after European Central Bank President Mario Draghi announced a more optimistic forecast for the region's economy at yesterday's press conference.

According to Eric Weisman, chief economist at MFS Investment Management, the recent resilience of the UK was based on the consumers' debt growth, which is unacceptable.

Friday's report came after yesterday's housing data showed that demand for housing fell to a six-month low last month while last week's data showed that British's key services sector expanded at its slowest pace in five months in February.

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  • avatar-1937
    • #

    This situation with Brexit will bring a lot of negative consequences for pound and it's a natural thing.

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