Market comment

UK GDP contracts by 20% in April


The news this morning that UK GDP contracted by 20% in April isn’t quite at the most pessimistic end of expectations but will probably lead many forecasters to revise down their projections towards a ‘double-digit’ contraction in 2020. Meanwhile, Michael Gove has announced a climbdown by the government on Brexit, highlighting the UK’s weak bargaining position and desire for a deal.

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Jun 12 2020, 08:50 IST/BST