Economics
UK Economy Shrinks Unexpectedly
- Figures reduce the risk of a half-point rise in interest rates
- CBI calls on government to spur growth and business investment
This article is for subscribers only.
The UK economy shrank in April at the sharpest pace in more than a year as the government wound down Covid testing, highlighting risks that a broader contraction is under way.
Gross domestic product fell 0.3% from March when output declined 0.1%, the Office for National Statistics said Monday. A gain of 0.1% was predicted by economists.