United Kingdom GDP declines by 0.1% MoM in April, as expected
The UK Gross Domestic Product (GDP) contracted by 0.1% MoM in April, following a 0.3% rise reported in March, the latest data published by the Office for National Statistics (ONS) showed on Friday.
The market forecast was for a 0.1% decline in the same period.
Meanwhile, the Index of Services (April) rose 0.8% 3M/3M versus March’s 0.8%.
Other data from the UK showed that monthly Industrial Production came in at 0% MoM in April, while Manufacturing Production increased by 0.4% during the same period.
Market reaction to the UK data
The Pound Sterling remains weak following the UK data. At the press time, the GBP/USD pair is gaining 0.13% on the day to trade at 1.3402.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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