UK April GDP contracted 0.1%, dragged by a 0.2% fall in services output even as services inflation holds at 3.2% year-on-year. With one MPC member already dissenting for a hike, a June 18 Bank of England cut is increasingly hard to justify.
UK quarterly GDP growth reaches a parliamentary high of 0.7% even as April posted a 0.1% monthly contraction, underscoring the volatility of high-frequency readings. Source
