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The UK’s economy declined by 0.3 percent in April, a sharp decline compared to the forecast, the challenge to promote development amidst high global uncertainty for Chanhel Raves.
Thursday’s monthly GDP from office for national statistics was below 0.1 percent contraction forecast by economists voted by Reuters and follows a 0.2 percent increase in March.
This figure comes when Donald Trump’s trade war began to affect the global economy, as he imposed a tariff on most imports in the US in April, including the UK. British companies have also faced an increase in national insurance contribution since April, while high utility in homes are struggling with bills.
The UK economy increased by 0.7 percent in the first three months of this year, but the Bank of England hopes to slow down by 0.1 percent in the second quarter.
Financial markets estimate that BOE will leave unchanged interest rates at 4.25 percent next week, the cost of borrowing four times since summer of 2024 will be reduced.
The latest Snapshot of the economy on Wednesday reviewed the government’s expenses after Reavs, which promised to promote for NHS, but cuts the actual spending for many whitehall departments.
This is a developing story
