UK Q1 preliminary GDP -2.0% vs -2.6% q/q expected

Author: Justin Low | Category: News

Latest data released by ONS - 13 May 2020

Latest data released by ONS - 13 May 2020
  • Prior (Q4) 0.0%
  • GDP -1.6% vs -2.2% y/y expected
  • Prior (Q4) +1.1%
  • Private consumption -1.7% vs -2.8% q/q expected
  • Prior 0.0%
  • Government spending -2.6% vs +1.3% q/q expected
  • Prior +1.5%
  • Exports -10.8% vs -8.0% q/q expected
  • Prior +5.0%
  • Imports -5.3% vs -3.7% q/q expected
  • Prior +0.4%
  • Total business investment 0.0% vs -3.0% q/q expected
  • Prior -0.5%
Slight delay in the release by the source. The headline figure is better-than-expected as the slump to the UK economy from the virus fallout was not as extensive as most would expect for the month of March.

That said, conditions in April will surely be much worse so this isn't anything to really be "bullish" about. The details don't make for good reading and with Brexit risks looming on the horizon, it is tough to see a solid and steady path to recovery for the UK economy.
See here for global coronavirus case data
 
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