MNI China Daily Summary: Thursday, May 16

MNI BRIEF: China To Take Necessary Measures Following Tariffs

MNI BRIEF: Aussie Unemployment Rises To 4.1% In April

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1020 Thurs; -3.70% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

US EIA:NAT GAS STORAGE +70 BCF TO 2,633 BCF MAY 10 WK

MNI: US APR INDUSTRIAL PROD +0.0%; CAP UTIL 78.4%

Homebuilding Activity Transitioning From Plateau To Pullback

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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MNI BRIEF: UK Economy Exits 'Recession' With Strong Q1 Growth

(MNI) LONDON
(MNI) London

UK GDP grew 0.6% in Q1 as the economy exited the technical recession seen in late 2023.

Bank of EnglandPolicy NewsHomepageCentral Bank NewsCEEMEABriefUKStoryRegionBank Of England (BOE) Market News
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The UK economy recovered strongly in Q1, exiting the technical resession seen in the last months of 2023. The economy grew by 0.6% q/q, outpacing both Bank of England and wider City expectations and by 0.2% compared to the same quarter a year ago, the Office for National Statistics said Friday.

“There was broad-based strength across the service industries with retail, public transport and haulage, and health all performing well. Car manufacturers also had a good quarter. These were only a little offset by another weak quarter for construction, " ONS Director of Economic Statistics Liz McKeown said.

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The UK economy recovered strongly in Q1, exiting the technical resession seen in the last months of 2023. The economy grew by 0.6% q/q, outpacing both Bank of England and wider City expectations and by 0.2% compared to the same quarter a year ago, the Office for National Statistics said Friday.

“There was broad-based strength across the service industries with retail, public transport and haulage, and health all performing well. Car manufacturers also had a good quarter. These were only a little offset by another weak quarter for construction, " ONS Director of Economic Statistics Liz McKeown said.

Keep reading...Show less