EUR/USD
1.15660
-0.103%
Gold
4180.51
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Oil
84.640
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USD/JPY
160.293
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1.34072
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Real-time News
June 12th - The UKs GDP fell 0.1% month-on-month in April, impacted by the economic downturn caused by the war with Iran. Data released by the Office for National Statistics on Friday was in line with economists expectations of a decline. The weak April performance was partly due to the fading of factors that drove exceptionally strong growth in March, when consumers stockpiled petrol and manufacturers moved up production in anticipation of higher energy prices from the Iran war. Looking at the less volatile three-month rolling data, the UK economy grew 0.7% in the three months to April compared to the previous three months, in line with analysts expectations. Since the outbreak of the Middle East conflict in late February, damage to energy infrastructure and the blockade of the Strait of Hormuz have driven oil prices sharply higher. The weak April performance is another blow to Prime Minister Starmer, who is facing a leadership challenge if Andy Burnham wins next weeks Mekfield by-election.The UKs seasonally adjusted trade balance with the EU in April was -£12.998 billion, compared with -£12.023 billion in the previous month.The UKs seasonally adjusted trade balance for April was -£8.435 billion, compared to a forecast of -£5.744 billion and a previous reading of -£9.658 billion.The UKs GDP grew 0.7% month-on-month in the three months of April, the largest increase since May 2024.The UKs seasonally adjusted non-EU trade balance for April was -£13.048 billion, revised from -£15.195 billion in the previous month.
