England’s GDP growth fell sharply in April, with a number of sub-indicators hitting multi-year lows
Posted by Emvertex
According to the analysis, England’s GDP growth dropped sharply in April, mainly due to a decline in car production, which was caused by the closure of car factories due to the uncertainty of brexit.
On June 10th the England office for national statistics revealed that GDP contracted by more than expected in April, the biggest drop since March 2016. England’s GDP fell 0.4 percent in April from a month earlier, compared with expectations for a 0.1 percent decline, the data showed.
The England office for national statistics explained this was mainly due to a “significant reduction” in car production due to the uncertainty surrounding brexit. England-based auto production fell 24 percent in April, the biggest drop since records began in January 1995.
On a monthly basis, industrial output in England fell 2.7% in April, the biggest monthly decline since September 2012. Manufacturing output in England fell 3.9 percent in April, the biggest monthly decline since June 2002. Englandproduced 0 percent of its services sector in April, its weakest performance since June 2018.