13 June 2022

UK Slowdown Fears Mount as GDP Unexpectedly Shrinks by 0.3% in April

International and Arabic
  • QNA Images

London, June 13 (QNA) - Britain's economy unexpectedly shrank in April, official figures showed on Monday, adding to fears of a sharp slowdown just three days before the Bank of England announces the scale of its latest interest rate response to the surge in inflation.
Gross domestic product (GDP) contracted by 0.3% from March.
It was first time since January last year that all main economic sectors had contributed negatively to monthly GDP.
However, GDP would have grown by 0.1% excluding the impact of a scaling back of the government's coronavirus test-and-trace and vaccination programmes, the Office for National Statistics said.
Over the three months to April, GDP was up by 0.2%, slowing sharply from growth of 0.8% in the three months to March. (QNA)


Economy, International, Britain, inflation, Bank, interest rate
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