UK GDP contracted -0.3% mom in April, worse than expectation of 0.2% mom growth. Services fell -0.3% mom. Production fell -0.6% mom. Construction also fell by -0.4% mom. This is the first time that all main sectors have contributed negatively to a monthly GDP estimate since January 2021.
Also released, manufacturing production came in at -1.0% mom, 0.5% yoy, versus expectation of 0.2% mom, 1.8% yoy. Industrial production was at -0.6% mom, 0.7% yoy, versus expectation of 0.2% mom, 0.5% yoy. Goods trade deficit widened to GBP -20.9B.
