08, April 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

Construction dropped the fifth month in a roll in March, as the industry has suffered from bad weather and poor demand, reported Markit Economics.

The indicator of construction activity was 47.2 in March, compared to 46.8 in February, when it reached the lowest value in more than three years, but it is still below the threshold 50.

The fact that the manufacturing sector shrank more than expected, indicates that it will not protect the economy from the triple recession.

Official GDP data will be published on April 25, however, there is still a high risk that the UK will reduce the second consecutive quarter, falling into a technical recession.