Barclays analysts say UK April GDP contracted 0.1% MoM, matching the Bank of
England's Q2 growth projection of 0.1%; the BoE meets next week. Services were
the main drag, with sports and entertainment posting a negative contribution,
partly linked to cancellations of Middle East sporting events. Markets now focus
on May inflation and April labour market data due next week. Subsequent data
would need to surprise materially to change the outcome of the June meeting,
though they could marginally shift vote splits and the policy statement's
wording.
