2023-05-12 02:31:12 ET
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UK monthly GDP decreased to -0.30% in March from 0% in February of 2023. The figure slipped more than expected 0%.
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The British economy expanded 0.1% on quarter in the first three months of 2023, the same as in Q4 2022, and matching market forecasts.
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Bifurcation for the quarter: The services sector grew 0.1%, led by information and communication (1.2%), and administrative and support service activities (1.3%). Also, the construction sector grew by 0.7% and manufacturing 0.5%, led by basic metals and the manufacture of computer, electronic and optical products. On the other hand, there were decreases in education (-0.7%), health (-0.5%), public administration and defence (-0.7%), and transport and storage (-1%).
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ETFs: ( FXB ), ( EWU ), ( FKU ), ( EWUS ), ( HEWU ), ( FLGB ).
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UK GDP dropped 0.3% in March, more than expected