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Evening Standard
Evening Standard
Business
Jonathan Prynn

Sterling slides as all three sectors of British economy go into reverse

Economy GDP Recession MPC

By late morning sterling was down more than a cent

(Picture: REUTERS)

The pound was on the slide once again today as markets took fright at worse than expected GDP figures that showed the UK’s output fell by 0.3% in April.

By late morning sterling was off around 1.1% to stand at $1.2186, the weakest level since mid-May as City economists digested the worse than expected figures from the Office for National Statistics (ONS).

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