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.Historical Time Series
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.
![](http://1.bp.blogspot.com/_8rpY5fQK-UQ/SfGelMaBBYI/AAAAAAAAGgw/z8mUzqgcj0Y/s400/ukgdp2.png)
Recent Breakout
![](http://3.bp.blogspot.com/_8rpY5fQK-UQ/SfGdKR56dAI/AAAAAAAAGgo/XeOjNoB4MO8/s400/ukgdp.png)
Source: Statistics.Gov.UK
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