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Mortgage approvals fell to 60.46 thousand in April, below the 65.00 thousand forecast and down from 63.60 thousand in March. Mortgage lending plunged to –£0.76 bn, worse than the –£0.50 bn expected and a sharp reversal from March’s £12.96 bn. Net lending to individuals was just £0.82 bn, well under the £2.80 bn forecast and far below March’s £13.80 bn.

S&P Global’s UK Manufacturing PMI rose to 46.4 in May—well above the 45.1 forecast and up from April’s 45.4—yet remains below 50, indicating continued factory‐sector contraction.

Bank of England data show that consumer credit jumped to £1.580 billion in April, well above the £1.100 billion forecast and up from £1.102 billion in March. Meanwhile, M3 money supply stood at £3,127.8 bn—slightly below last month’s £3,129.2 bn—while M4 money supply was unchanged month-on-month (0.0%), missing the 0.2% rise expected and down from March’s 0.3% gain.

Nationwide reports that house prices rose 0.5% month-on-month in May, beating the flat (0.0%) forecast and reversing April’s -0.6% decline. On a year-on-year basis, prices climbed 3.5%, above the 2.9% estimate and up from April’s 3.4%, underlining renewed strength in the housing market.

The S&P Global/CIPS Composite PMI for May rose to 49.4, beating the 49.3 consensus and up from April’s 48.5, signalling a modest reduction in the pace of overall contraction.

The Manufacturing PMI came in at 45.1, below the 46.2 forecast and down from 45.4, underscoring continued factory-sector weakness. Meanwhile, the Services PMI climbed to 50.2, above the 50.0 estimate and up from 49.0, marking an expansion in service-sector activity.

Public sector net borrowing jumped to £20.16 billion in April, well above the £18.00 billion forecast and up from £14.14 billion a year earlier, reflecting heavier government financing needs. The public sector net cash requirement also climbed to £9.116 billion in April, compared with £2.819 billion in the same month last year, underscoring stronger drawdowns on the Treasury’s cash reserves.

Rightmove’s House Price Index shows UK home values up 6.4% year-on-year, well above the 5.2% forecast and up from March’s 5.4%, highlighting a firm rebound in the housing market.

Headline Retail Price Index rose 1.7% month-on-month in April, above the 1.5% forecast and up from March’s 0.3% gain. On a year-on-year basis, RPI climbed 4.5%, beating the 4.2% consensus and accelerating from 3.2% a year earlier. Core RPI—which excludes mortgage interest payments—increased 1.8% MoM, sharply higher than the 0.3% in March, and rose 4.2% YoY, up from 2.8%, underscoring intensifying underlying inflation pressures.

Headline CPI rose 1.2% month-on-month in April, up sharply from March’s 0.3% gain and above the 1.1% forecast. On an annual basis, consumer prices climbed to 3.5% year-on-year, accelerating from 3.3% and marking the highest rate since mid-2022. The non-seasonally adjusted CPI level stood at 138.20.

Core inflation also picked up pace: core CPI jumped 1.4% MoM—well above the 1.2% estimate and March’s 0.5%—while core annual inflation rose to 3.8% YoY, up from 3.6%, underscoring persistent underlying price pressures across the economy.

Rightmove’s house price index rose just 0.6% month-on-month in May, down notably from April’s 1.4% increase and marking the smallest monthly gain since the start of the year. On a year-on-year basis, prices were up 0.6%, slowing from May last year’s 1.3% rise and underscoring a cooling property market.

UK industrial production declined 0.7% MoM in March, slightly below expectations of -0.6%, and down sharply from February’s 1.7% increase. On a yearly basis, output dropped 0.7%, though less than the expected -0.9%.

Manufacturing production also disappointed, falling 0.8% MoM, in line with expectations, following a strong 2.4% rise the previous month. Year-over-year, manufacturing output declined 0.8%, versus a forecast of -0.5%, and well below the prior year’s 0.5% growth.

The data signals a loss of momentum in the UK’s industrial sector as higher costs and weaker global demand weigh on production.

UK construction output increased by 0.5% month-over-month in March, outperforming the expected 0.2% and matching the prior month’s growth. On an annual basis, output rose 1.4%, in line with the previous year and slightly above the 1.2% forecast. The data reflects stable activity in the construction sector amid broader economic recovery.