April's surprising 0.8% m/m decline in the value of manufacturing sales, mainly due to lower volumes, points to another month of modest growth in GDP, possibly as low as 0.1%m/m. We originally assumed growth of around 0.3% to 0.4% m/m, so unless wholesale and retail were strong, it now looks like April's GDP growth was weak.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services