Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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.
The service sector rose 0.5% m/m, far ahead of expectations of no growth and was a big driver of the overall pick-up in the economy. In recent weeks, leading analysts of the UK economy have pointed to signs that the economy was picking up in Q1. (see MNI INTERVIEW: Upbeat UK Confidence Read Grounds For Optimism-GfK and MNI INTERVIEW: Boost To UK Consumer As Inflation Slows-ONS)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.