Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleBritain's economy contracted by 0.1 per cent in April, marking the first decline in eight months, following growth in March and February. The downturn was primarily driven by a 0.2 per cent fall in the services sector, particularly a 4.3 per cent drop in arts, entertainment, and recreation, and a 9.1 per cent contraction in sports due to cancelled events in the Middle East. Chancellor Rachel Reeves acknowledged that the conflict in the Middle East is impacting the UK economy, noting its effect on growth and inflation. The economic figures are fuelling concerns that the Middle East conflict will significantly affect Britain's economy through rising fuel and energy costs. Economists predict that after a strong start to the year, GDP growth will progressively slow, with some forecasting a potential 'flirting with recession' scenario. In fullUK economy shrank by 0.1% in April following impact of Iran warThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
UK economy shrinks for first time in eight months – here’s why
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleBritain's economy contracted by 0.1 per cent in April, marking the first decline in eight months, following growth in March and February. The downturn was primarily driven by a 0.2 per cent fall in the services sector, particularly a 4.3 per cent drop in arts, entertainment, and recreation, and a 9.1 per cent contraction in sports due to cancelled events in the Middle East. Chancellor Rachel Reeves acknowledged that the conflict in the Middle East is impacting the UK economy, noting its effect on growth and inflation. The economic figures are fuelling concerns that the Middle East conflict will significantly affect Britain's economy through rising fuel and energy costs. Economists predict that after a strong start to the year, GDP growth will progressively slow, with some forecasting a potential 'flirting with recession' scenario. In fullUK economy shrank by 0.1% in April following impact of Iran warThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
