09, April 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

The British economy will struggle to gain an impulse in the second half of the year, the business mood and hiring intentions became better, according to a survey conducted by BDO LLP.

The confidence index rose to 92.2 in March from 90.6 in February, and the index of hiring accounting firms increased to 96 from 95, according to a report in London. Nevertheless, the output index 93 remains below 95, indicating that a positive growth is quarter ahead. BDO: "robust business conditions will remain unattainable."

The British economy contracted in the fourth quarter and Markit Economics said their studies indicate a growing industry "only" 0.1 percent in the three months to March. Industrial production grew by 0.4 percent in February, changing only a third of its fall in January.

Separately, Lloyds Bank said that the sentiment index for British employment remained unchanged at minus 15 in March. Index of employment prospects fell by 1 point to minus 45.