Alex Borzak
Forex news, GBPUSD. Real wages in Great Britain stopped rising in March. According to the research of VocaLink company, wages in private sector stopped rising because the increase of wages in industrial sector was not supported by similar rise in services sector.
Wages of employees, working at the companies that are listed in FTSE 350 index, during March have risen by 1.7% Y/Y versus February increase by 1.8% Y/Y. Wages in industrial sector have risen by 3.7% Y/Y, whereas wages in services sector have risen by 1.4% Y/Y versus February increase by 1.6% Y/Y. Wages in government sector have dropped by 1.9% Y/Y during March versus February decline by 2.3% Y/Y. Reduction of wage increase may be comforting for the Bank of England analysts, as this will not serve the basis for high inflation this year. Inflation rate in February amounted to 3.4% Y/Y, which is supposed to drop to 2% Y/Y, according to the predictions of the Bank of England.
Besides, February results of work in British industrial sector have been issued. On a monthly basis, it has risen by 0.4% versus January decline by 0.4%. Predicted increase was 0.3%.
On an annual basis, industrial production has dropped by 2.3% versus previous point -3.8%. Predicted increase was the same.
According to Commodity Trading Department of , GBP future is traded below 1.5900. This point may be broken if demand rises, and in case of success it may rise to 1.5950. If this point is maintained, support will be provided by 1.5850.
Alex Borzak
