PREVIOUS TRADING DAY EVENTS 12 May 2023

Announcements 

The monthly change in GDP figure was reported on Friday. It is estimated to have fallen by 0.3 in March 2023, after showing no growth in the previous month. According to output data, U.K.s economy declined sharply in March, after growing by 0.1 in the first three months of the year. The services sector fell by 0.5 in March 2023, after an unrevised fall of 0.1 in February 2023 and was the main contributor to the fall in monthly GDP.

With the key services side of the economy continuing to slow in the face of higher borrowing costs and rising prices, it still feels like were walking through treacle, said Tom Stevenson, personal investing director at fund manager Fidelity International.

U.K.s inflation is enormous, nearly 10 higher than the U.S. and Eurozone. The Bank of England raised its main interest rate last week to 4.5, the highest since 2008 and forecasts that the economy will grow 0.25 in 2023.

While recession is probably no longer on the cards, vulnerabilities resulting from higher borrowing costs and tighter credit are likely to dampen business and household activity this year, KPMG economist Yael Selfin said.

Source httpswww.reuters.comworldukukeconomyshows01growthfirstquarter2023ons20230512

US Michigan Consumer Sentiment Index MCSI, preliminary, was reported 7 for May versus the expected figure of 63.0. This is a widelyfollowed economic indicator that measures the overall level of consumer…