UK April monthly GDP -0.3% vs +0.1% m/m expected

• Prior -0.1%

That's a significant miss and reaffirms that the cost-of-living crisis in the UK is worsening, with the economy contracting in April. In the three months to April, UK GDP increased by just 0.2%.

Of note, services fell by 0.3% and was the biggest contributor to the drop in economic activity. Production fell by 0.6% in April, driven by a fall in manufacturing of 1.0%, while construction also fell by 0.4% on the month. ONS notes that this is the first time that all main sectors have contributed negatively to a monthly GDP estimate since January 2021.

As inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term pressures continue to constrict the economy, this will be a big headwind for the BOE to stay on the tightening path.