Friday, April 24, 2009

UK GDP Down Most in 30 Years

Daily FX with the details:

U.K. Q1 GDP contracted much more than expected, falling 1.9% quarter over quarter and 4.1% year over year, versus our survey median estimates for -1.6% and -3.8% respectively, highlighting the severity of the U.K. recession at the beginning of the year.

Total industrial production declined by 5.5% quarter over quarter, the largest quarterly drop since records began in 1948, emphasizing the very dire state for the sector. Meanwhile, manufacturing output fell by an even sharper 6.2% quarter over quarter , which was also the worst ever on record.
Historical Time Series

Recent Breakout

Source: Statistics.Gov.UK

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