Economy and Business

BREAKING: UK economy in distress, witnessed no growth in April

The UK economy recorded no growth in April, according to the latest figures from the Office for National Statistics (ONS). The stagnation follows a 0.4% growth in March and comes as the nation prepares for the general election on July 4th.

Economists had anticipated this lack of growth, attributing it largely to the exceptionally wet weather throughout April, which significantly affected consumer spending and construction activities.

The ONS report noted that rainfall during the month was 155% above the long-term average, reducing retail sales as shoppers stayed indoors.

Despite the overall stagnation, spending on services saw growth for the fourth consecutive month. However, the increase was offset by declines in production and the construction industry, which suffered delays and disruptions due to the adverse weather conditions.

The UK had previously recorded its fastest growth in two years from January to March, pulling the economy out of the recession that had gripped the latter half of the previous year.

The 0.4% growth in March was a positive sign, but April’s performance highlights the fragility of the economic recovery.

As the general election approaches, the economy has become a critical issue for political parties. The latest GDP figures, showing no growth, will likely influence campaign strategies and voter perceptions.

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button