The British economy spread a little faster than expected in the first quarter, as a solid performance in the service sector compensated for a drop in industrial production.
The gross domestic product (GDP) increased by 0.2% per month in March, said the national statistics office in a preliminary estimate. The analysts expected what remains stagnant. This left GDP of 0.7% in the first three months of the year, a little more than forecasts of 0.6%.
The Bank of England said last week that, even if it expected a solid performance in the first quarter, the British economy should slow down during the rest of the year. This is due in particular to a brief increase in exports when companies were trying to put their goods in the United States before imposing commercial prices.
ONS data only capture economic performance before the President Trump Trump’s pricing package on April 2 which upset the financial markets and prompted the international monetary fund to reduce its growth prospects by 2025 for advanced savings of 0.7 percentage point to 1.2%.
The United Kingdom was one of the first countries in ink a commercial agreement with Washington – but as an open -scale economy, it remains exposed to any rupture of the order of world exchanges. BOE officials warned that the indirect effect of American prices on other trade partners in the United Kingdom, in particular the EU, was likely to be larger than direct directors on Great Britain.
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