Data from the ONS (Office for National Statistics) shows that UK GDP grew by 0.4% in February. Lower than expected 0.6% growth but follows a decline of 2.2% in January. Exports to the European Union rose by 47% in February, an indication that trade between the UK and EU is recovering.

In the US, economic advisers and national security advisers met on Monday to discuss President Biden’s $2.25 trillion infrastructure plan and the global semiconductor shortage. The President said he has support for his plan that will provide $50 billion for the semiconductor industry.

Investors will be closely monitoring US inflation data due today, with the March consumer price
expected to show a 0.2% increase in core inflation.

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