March 31, 2023 – Written by John Cameron
STORY LINK Pound Euro Exchange Rate News: GBP/EUR Fluctuated as UK Narrowly Avoids Recession
Pound (GBP) Supported by Surprise GDP Growth
The Pound (GBP) experienced mixed fortunes on Friday morning in the wake of GDP growth surprising to the upside. Against expectations of flatlining GDP growth for the last three months of 2022, the final reading came in at a 0.1% increase.
Avoiding a second quarter of contracting economic activity, the UK economy avoided a technical recession. The Office for National Statistics (ONS) revealed the final reading for GDP growth in the UK for Q4 2022 and improved investors’ spirits.
Darren…
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