Moody's UK macroeconomic conditions remain firm

Author: Greg Michalowski | Category: News

Report from Moody's on the UK

  • Despite signs of slowing growth in the first quarter, UK macroeconomic conditions remain firm
  • latest UK data suggest drivers of growth gradually shifting with lower  contributions from service sector  partially offset by industrial production
  • relatively  resilient macroeconomic conditions since EU rreferendum supports view of modest and manageable credit impact from Brexit for UK issuers
  • likely to see  consumption growth weakening this year against backdrop of rising inflation
The GBPUSD remains above the 1.2988-90 area below keeping the bulls/buyers more in control (see earlier post).  The low reached 1.29894.