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The UK economy is holding its head up

The Brexit fears have forced many companies in the UK to freeze or at least minimize their operations. But the UK,  economy is still holding up despite Brexit, global slowdown and more importantly, the Eurozone difficult times. There was a slowdown of the UK economy in the last couple of months but the economic factors and indicators have shown an improvement in the last few weeks as we approach the referendum. 

Today we had the average wage numbers which jumped up by 2% against 1.7% expected and the unemployment fell to 5%. Last week we had the manufacturing and industrial production jumping up by more than 2% combined and the house prices rose by 0.6% month on month so that shows that the demand is picking up, which in itself means that people´s income have improved and they have more cash to spare. We´re still laying off the GBP pairs because the Brexit polls are the ones that count right now and the market sentiment is focused on that, not the real economy.

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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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