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- UK GDP contracted by 0.4% in April 2019
UK GDP contracted by 0.4% in April 2019
Office for National Statistics said, monthly GDP growth was negative 0.4% in April 2019, as the production sector and manufacturing sub-sector contracted. Economists had expected a 0.1% decrease.
In the three months to April 2019 UK gross domestic product (GDP) grew by 0.3%. The services sector had a positive contribution to rolling three-month growth in April 2019, increasing by 0.2%. The production sector increased by 0.7%, within which manufacturing grew by 1.2%, making it the second-largest contributor to rolling three-month growth. Construction also had a positive contribution, growing by 0.4% in the three months to April 2019.
Commenting on today’s GDP figures, Head of GDP Rob Kent-Smith said: “GDP growth showed some weakening across the latest 3 months, with the economy shrinking in the month of April mainly due to a dramatic fall in car production, with uncertainty ahead of the UK’s original EU departure date leading to planned shutdowns. There was also widespread weakness across manufacturing in April, as the boost from the early completion of orders ahead of the UK’s original EU departure date has faded.”
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