UK economy shrank by 0.1% in April
Summary
The UK economy shrank by 0.1% in April, mainly because the services sector produced less. However, construction activities increased, which helped reduce the overall drop. Over the three months leading to April, the economy grew by 0.7% compared to the previous three months.Key Facts
- The UK economy decreased by 0.1% in April.
- The decline was mainly due to lower output in the services sector.
- Construction grew, partially balancing the drop in services.
- Analysts had expected a small decline in April after stronger growth in March.
- The March growth was partly because people spent money earlier due to worries about the war in the Middle East.
- Over the three months to April, the UK economy grew by 0.7% compared to the previous three months.
- The data comes from the Office for National Statistics (ONS).
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