TOP NEWS: UK economy grows 0.2% in April; industrial production falls

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Figures from the Office for National Statistics showed that the UK economy is estimated to have grown 0.1% in the three months to April.

According to the ONS, real gross domestic product is estimated to have grown by 0.2% in April, after shrinking by 0.3% in March.

Looking at the broader picture, GDP grew by 0.1% in the three months to April.

Separately, the ONS reported that the UK’s industrial production declined in April.

The UK’s monthly production output is estimated to have declined by 0.3% in April, following an increase of 0.7% in March.

Markets had expected monthly production to fall 0.1% in April, according to FXStreet-cited consensus.

The ONS said the decrease in output resulted from a decline in three of the four production sectors, with manufacturing as the main contributor to the monthly fall.

Against the previous year, production output is estimated to have fallen 1.9% in April, slowing from a 2% fall in March.

Markets had expected production to fall 1.7% in April.

The ONS also reported the value of the UK’s exports and imports in April.

The value of goods imports decreased by £700 million in April, or 1.4%, from March. After removing the effect of inflation, the value of goods imports by 0.4%.

The value of goods exports increased by £1.0 billion, or 3.4%, in April on the month before. After removing the effect of inflation, exports of goods rose by a similar amount, the ONS said.

The total trade in goods and services deficit narrowed by £12.6 billion to £12.3 billion in the three months to April, when compared with the three months to January.

The ONS said this narrowing was driven by a larger fall in imports than exports.

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