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

UK DATA
MNI (London)
UK DATA: Services Saw Slump in Mar, Before April Full Lockdown
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- 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%,
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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.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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