UK Q1 GDP is out, and as feared has come in much worse than consensus expectations. Here’s the table from Reuters:
Here’s the joyfully long-list of records that reading achieves:
* Biggest quarterly fall in GDP since Q3 1979
** Biggest annual fall in GDP since Q4 1980
*** Biggest quarterly fall in manufacturing output since records began in 1948
**** Biggest quarterly fall in total production output since Q1 1974
***** Biggest annual fall in total production output since records began in 1948
****** Biggest quarterly fall in business services and finance output since records began in 1983
******* Biggest quarterly fall in services output since Q3 1979
And sterling is moving downwards so quickly it looks like the Reuters graphic has been taken over by a child on an ‘Etch a Sketch’.
Related links:
HMT wakes up to smell the coffee – FT Alphaville
Time to smell the coffee over at HMT - FT Alphaville
Gilt auction failure begins – FT Alphaville
Darling GDP numbers – FT Alphaville