Editor's note: This brief was summarised by The Property AI Team from a report by Mortgage Solutions. Read the original article for full details.
UK Economy Shrinks by 0.1% in April, ONS Reports
The UK economy contracted by 0.1% in April 2026, according to the latest figures from the Office for National Statistics (ONS). This follows a 0.3% expansion in March and a 0.5% rise in February, which was revised down from 0.6%.
The ONS attributed the overall drop in April to a 0.2% fall in the services sector. This decline was partially offset by a 0.1% increase in construction output. Production levels showed no change during the month.
On a quarterly basis, real gross domestic product (GDP) grew by 0.7% in the three months to April. This continues the trend of quarterly growth, with GDP rising by 0.6% and 0.5% in the three months to March and February, respectively.
The Bank of England’s Monetary Policy Committee is scheduled to make its next interest rate decision next week. The report notes that the latest economic data, combined with ongoing inflation, may influence the committee’s decision.
For UK letting agents and inventory clerks, the reported contraction in the services sector and the slight growth in construction may be relevant when considering market activity and property sector trends. The quarterly growth figures suggest some resilience in the broader economy, despite the monthly decline.
Source: Mortgage Solutions