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The UK economy contracted by 0.1% in April, marking the first monthly decline since August. According to the Office for National Statistics, this downturn was primarily driven by a 0.2% decline in the services sector, specifically impacting administration, support, arts, and entertainment. While manufacturing output rose by 0.4% and construction saw a 0.1% increase, these gains were insufficient to prevent the overall monthly contraction.
UK GDP fell by 0.1% in April, ending a period of growth observed in February and March.
The Office for National Statistics attributed the services sector decline in part to the cancellation of sporting events in the Middle East due to the conflict involving Iran.
Despite the monthly contraction, real GDP grew by 0.7% over the three months leading up to April compared to the previous three-month period.
The UK trade deficit widened by GBP7.7 billion to GBP9.9 billion during the three months ending in April.
Manufacturing output increased by 0.4% in April, largely supported by fluctuations in pharmaceutical production.
The decline was driven by drops in administration, support, arts, and entertainment, with reports suggesting that the cancellation of sporting events in the Middle East due to the Iran conflict negatively impacted related British firms.
Real GDP grew by 0.7% in the three months to April compared to the preceding three-month period.
The UK total goods and services trade deficit widened by GBP7.7 billion to reach GBP9.9 billion in the three months to April.
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