April GDP contraction matches forecasts but signals weakening momentum after March’s 0.3% growth.
The UK economy contracted by 0.1% in April, matching expectations, as services and construction output fell sharply. The decline follows a 0.3% expansion in March, marking a slowdown in economic activity.
Services output dropped 0.1% month-over-month, missing forecasts for flat growth, while construction output plunged 0.4% against expectations of a smaller decline. Industrial production rose 0.1%, slightly below the anticipated 0.2% gain, and manufacturing output fell 0.2%, reversing March’s 1.2% surge.
The data underscores weakening demand amid persistent inflation and higher borrowing costs, though the print aligned with consensus estimates.