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UK economy shrinks as cost of living crisis bites
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The UK economy unexpectedly shrank in April as the cost of living crisis bites, according to official figures.
The Office for National Statistics said gross domestic product (GDP) fell by 0.3% on the month, coming after a 0.1% decline in March as consumers reined in their spending amid soaring household energy bills.
City economists had forecast modest growth of 0.1%.
More details to follow soon …
Read more on theguardian.comAbout this in other media
UK economy starting to ‘run on empty’ as order books dry up theguardian.com /2 years ago
Brexit is making cost of living crisis worse, new study claims theguardian.com /2 years ago
How the cost of living crisis is hammering UK households – in charts theguardian.com /2 years ago
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