UK gross domestic product contracts 5.8% in March

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UK gross domestic product slumped 5.8% in the month of March as the Covid-19 crisis weighed, according to the Office for National Statistics.

The fall was nevertheless shallower than market expectations of a 7.1% contraction.

First-quarter GDP, according to a 'preliminary' estimated, fell 2.0%, bettering expectations of a 2.6% decline.