Current UK GDP at -0.1% vs Forecast of 0.1%; GBPUSD Plummets

The United Kingdom released two economic indicators that influenced the movement of GBPUSD during trading on Friday (March 14, 2025).

The economic growth, known as Gross Domestic Product (GDP), for January was reported at -0.1% month-on-month (MoM), falling short of the forecast by Trading Central at 0.1% and down from the previous month’s figure of 0.4%.

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Additionally, industrial production for the same period was reported at -0.8% MoM, worse than the forecast of -0.3% and a decline from the previous month’s growth of 0.5%.

Following these releases, GBPUSD dropped to approximately 1.29234, marking the lowest point of the day.

This data release points toward a weakening economy in the UK at the start of this year, creating the possibility for the Bank of England (BoE) to consider further interest rate cuts.

As a result, GBPUSD, which had been hovering near a four-month high, experienced a wave of profit taking and subsequently fell. There is a likelihood that selling pressure will continue in today’s trading.