The second revision to the UK's first-quarter gross domestic product (GDP) failed to surprise on the upside, confirming the economy decelerated by as much as half at the start of this year to a growth of 0.3%. A healthy rebound in business investments, steady growth in domestic consumption and modest upward revisions to both manufacturing and construction output failed to offset significantly weaker services and a wider trade deficit. Manufacturing Markit/CIPS' manufacturing PMI is due Monday, June 1. The April release showed business activity slipped to a seven-month low of 51.9, while the market expectations for ... (full story)