RBC Capital Markets
June 12, 2026
UK GDP April 2026
Macro Economic IndicatorsMacro Economic IndicatorsEnergyIndustrials
UK GDP contracted by 0.1% in April, missing expectations but highlighting sectoral weakness in services against resilient manufacturing output. Growth is expected to remain soft in coming quarters due to inflationary pressures.
Key Takeaways
- 1.UK GDP contracted by 0.1% m/m in April 2026, consistent with consensus but missing growth expectations.
- 2.Services output drove the decline, with negative contributions from administrative support, retail/wholesale, and arts/entertainment.
- 3.Manufacturing remains resilient, rising 0.4% m/m, likely supported by firms pulling forward activity to avoid supply disruptions from Middle East conflict.
Table of Contents
- RBCi: UK GDP (April 2026)
- Fall in GDP in April, slowdown ahead
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Authors
Cathal Kennedy
Themes
Macroeconomic SlowdownGeopolitical ImpactInflationary Squeeze
Regions
EuropeUK