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May GDP/short-term indicators preview.......>

MNI (London)
UK DATA: May GDP/short-term indicators preview (expected 0700BST)
--UK May GDP median +5.0% m/m, -17.5% 3m/3m, -21.0% y/y (Apr -20.4% m/m)
--UK May index of services median +4.7% m/m, -19.3% y/y (Apr -19% m/m)
--UK May manufacturing median +8.0% m/m, -24% y/y (Apr -24.3%)
UK June GDP is expected to recoup some of the damage done in late-March and
April, with analysts expecting a m/m gain of around 5%. That would be by far the
biggest monthly gain on record, but needs to be seen in the light of a 5.8%
decline in March and a 20.4% fall in April. The previous record m/m gain was a
1.9% pick-up in July 2012, boosted by the start of the Olympics and a weak
prior. Recoveries are seen across the sectors this month, with services set for
a 5% bounce after falling 19% in April. Construction is set for a 15% bounce
after falling 40% in April. Manufacturing is also set for a bounce, seen up 8%
after a 24.3% decline in April.
MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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