UK GDP reached [VALUE] beating/meeting market expectations. Let's hear from Michael Hewson (CMC Markets).
Michael Hewson (CMC Markets): The UK economy managed to improve on its GDP performance in December when it contracted by -0.5%. Nonetheless, despite today's improvement, which was primarily driven by the services sector, concerns about the resilience of the economy remain ahead of next week's budget. Today's data also increases the pressure on Chancellor of the Exchequer Jeremy Hunt to bring in measures to stimulate investment and innovation, champion business, and push back on the siren calls for more taxes which are self-defeating, and don’t raise the sums claimed.
