UK Q1 preliminary GDP +0.8% vs +1.0% q/q expected

• Prior +1.3%
• GDP +6.4% vs +9.0% y/y expected
• Prior +6.6%

Services output were seen 0.4% up, though overall activity was slightly tempered with by the drop in March. The Russia-Ukraine conflict has led to surging inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term pressures and that hasn't helped one bit with consumption and the brewing cost-of-living crisis in the UK. That will be a major headwind for the economy in the months to follow.

Overall, the level of GDP in Q1 2022 is now 0.7% above its pre-pandemic level i.e. Q4 2019. The monthly estimates for Q1 reveal a 0.7% increase in GDP in January, flat growth in February, and a 0.1% fall in March.