Services Saw Slump in Mar, Before April.....>

UK DATA: Services Saw Slump in Mar, Before April Full Lockdown

---------------------------------------------------------------- 

- MAR INDEX OF SERVICES -6.2% M/M; -5.2% Y/Y, PRV 0.0%, MED -8.0% 

- MAR IND PRODUCTION -4.2% M/M, PRV -0.1%, MED -5.6% 

- MAR MANUFACTURING -4.6% M/M, PRV 0.3%, 

- MAR CONSTRUCTION -5.9% M/M, PRV -2.1%,

---------------------------------------------------------------- 

M/M GDP collapsed by 5.8% in Mar, although falling short of expectations looking

for an 8.0% fall, but still the largest fall on record. Mar's downtick was

driven by services plunging 6.2% m/m. Services had already slowed at the

beginning of the year and Mar's drop led to a q/q fall of 1.9% for services. The

decrease was driven by sharp declines in almost all categories with

accommodation and food services seeing the biggest slump. Construction output

fell in Feb due to bad weather conditions and showed another drop by 5.9% in

Mar, although on partial returns. Both services and construction saw the largest

m/m declines on record. IP fell 4.2%, following downwardly revised Jan and Feb.