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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK industrial production dropped more than expected in April
In the UK, industrial production recorded a drop of 2.70% on a MoM basis in April, compared to an advance of 0.70% in the prior month. Markets were expecting industrial production to ease 1.00%.
UK total trade deficit dropped in April
In the UK, total trade deficit fell to £2.74 billion in April, following a revised total trade deficit of £6.15 billion in the prior month. Markets were anticipating the nation’s total trade deficit to drop to £4.70 billion.
UK manufacturing production declined more than expected in April
In the UK, manufacturing production registered a drop of 3.90% on a MoM basis in April, higher than market expectations for a drop of 1.40%. Manufacturing production had advanced 0.90% in the previous month.
UK GDP declined more than expected in April
In the UK, gross domestic product (GDP) dropped 0.40% on a MoM basis in April, higher than market expectations for a fall of 0.10%. In the prior month, GDP had registered a drop of 0.10%.
UK construction output unexpectedly slid in April
In the UK, construction output unexpectedly eased 0.40% on a MoM basis in April, less than market expectations for a rise of 0.50%. Construction output had recorded a drop of 1.90% in the prior month.
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