UK economy has lost some momentum – BBH

Research Team at BBH, suggests that the investors have been well aware the UK economy has lost some momentum and this understanding was confirmed by last week's estimate of Q1 GDP (0.4%).

Key Quotes

“Nonetheless, today's manufacturing PMI was a surprise. It fell below the 50 boom/bust level at 49.2, and the March series was revised lower (50.7 vs. 51.0). Export orders were weak, and costs and output prices fell. The construction and, more importantly, the service PMI will be released in the coming days. Both are expected to generate a consistent signal that after slowing in Q1, the UK economy is slowing further at the start of Q2.”