Free Trial

MNI DATA BRIEF: UK GDP Declines IN Q1 Despite March Rebound

The UK economy contracted by 1.5% in the first quarter, slightly outperforming expectations, even as output rebounded by a stronger-than-forecast 2.1% in March ahead of an expected reopening of the economy, the Office for National Statistics said Wednesday. All output components contracted in Q1, led by a 2.0% slump in services, which shaved 1.9 percentage points from GDP.

The UK lagged the US (+1.6% in Q1) and the euro zone (-0.6%) over the opening months of the year, but outperformed Germany, which suffered a 1.7% fall in output.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

To read the full story

Close

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.