The pound weakened against other major currencies after the latest manufacturing figures fell short of expectations. The data indicated a slowdown in factory output, fueling worries about the pace of economic growth in the United Kingdom.
Impact on Markets
The currency’s decline was most pronounced against the US dollar and the euro. Analysts suggest that the weaker-than-anticipated manufacturing numbers could prompt the Bank of England to maintain its current monetary policy for a longer period.
Expert Opinions
“These figures are certainly a setback,” commented a leading economist. “They suggest that the recovery is not as robust as previously hoped, and the pound is reflecting that uncertainty.”
Looking Ahead
Market participants are now awaiting further economic releases, including data on the services sector and inflation, to gain a clearer picture of the UK’s economic outlook.
- Services sector data next week
- Inflation figures to be released later this month
