UK Economy A Quarter Smaller Than In Feb....>

UK DATA: UK Economy A Quarter Smaller Than In Feb

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- APR GDP -20.4% M/M (PREV -5.8%), -24.5% Y/Y (PREV -5.7%)

- APR INDEX OF SERVICES -19.0% M/M; -23.2% Y/Y

- APR IND PRODUCTION -20.3% M/M, PRV -4.2%, MED -15.0%

- APR MANUFACTURING -24.3% M/M, PRV -4.6%, MEDIAN -15.3%

- APR CONSTRUCTION -40.1% M/M, PRV -5.9%, MEDIAN -25.0%

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M/M GDP plunged by 20.4% in Apr, a reading almost ten times larger than the

steepest pre-covid fall. Apr's decline was broad based with record declines

shown in every major category. Services contracted by 19% with accommodation and

food services leading the fall, dropping by 88.1%. Only public admin and defence

saw a flat reading in Apr. Mfg and construction were hit particularly bad,

showing declines well below forecasts. The ONS noted that the response rate was

lower in Apr and imputation measures had been applied. Trade was significantly

affected by the pandemic with sharp falls in both exports and imports.