LMI Update May 2020

Office for National Statistics have released their first set of GDP figures for Q1 2020, which show that, with the arrival of the pandemic nearly every aspect of the economy was hit in March, dragging growth to a record monthly fall.

Services and construction both saw record declines on the month with manufacturing, education, car sales and restaurants all falling substantially. Although very few industries saw growth, there were some that did including IT support and the manufacture of pharmaceuticals, soaps and cleaning products.

You can read the full report here http://ow.ly/HXZ950zEJfJ