Market comment - UK GDP contracts as Brexit hangover kicks in

Davy Research
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The news that UK GDP fell by 0.4% in April, albeit largely reflecting an enormous 24% drop in vehicle production, raises the possibility that the economy may contract in the second quarter. So consensus forecasts for UK GDP to grow by 1.4% in 2019 may now have to be revised down. Poor labour market figures today, showing employment contracting, could undermine confidence further.