UK GDP growth plunges to -20% in April
Figure is worst on record, but may be somewhat better than earlier official estimates
The UK economy contracted 20.4% in April, according to an early estimate released by the Office for National Statistics today (June 12).
“April’s fall in GDP is the biggest the UK has ever seen, more than three times larger than last month and almost 10 times larger than the steepest pre-Covid-19 fall,” says Jonathan Athow, deputy national statistician for economic statistics. “Virtually all areas of the economy were hit.”
GDP fell 0.2% in February, 5.8% in March, and 20.4% in April
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Data
ECB set for 100bp of rate cuts by autumn – Greek governor
France is ‘an issue’ and Trump presidency an ‘explosive mix’, says Stournaras
Distributions allow better state-level forecasts – RBI paper
Authors find new method incorporating inflation and expectations can cut forecast errors
Tax avoiders less likely to channel funds through Netherlands – DNB
Annual flow of money to tax havens fell by 75% in just five years, central bank says
Keep liquidity provision loose during shocks – ECB study
Central banks can lessen harm to economy by reducing liquidity premium, say authors
Doing nothing is ‘least costly’ response to US tariffs – BoF blog
Costs will be borne by American firms and households, Bank of Finland analysis shows
Lagarde warns of widening climate finance gap
“We must adapt and become more resilient” in a fair and equitable manner, says ECB president
Rate uncertainty means firms hire and invest less – BdF study
European companies hoard cash and reduce dividend payments when monetary stance is unclear
ECB study highlights firms’ exposure to property downturn
Analysis examines risks to various classes of investor from exposure to commercial real estate