Royaume-Uni Monthly GDP MoM

The British economy contracted by 0.3% mom in April 2025, marking the first decline in six months and the sharpest drop since October 2023. This follows a 0.2% expansion in March and exceeded expectations of a 0.1% decline. Several factors contributed to the downturn in April, including higher energy bills and regulated service costs, the implementation of increased employers’ National Insurance contributions, a rise in Stamp Duty Land Tax rates, and the announcement of major tariffs by President Trump. Services output, the largest contributor to the GDP decline, fell by 0.4%. Notable declines were recorded in legal activities (-10.2%), advertising and market research (-3.4%), wholesale trade (-3.2%). Production output also contracted (-0.6%), namely manufacturing (-0.9%) and electricity, gas, steam and air conditioning (-4.3%). In contrast, the construction sector showed resilience, with output increasing by 0.9%. Despite April’s setback, GDP grew by 0.7% in the three months to April.