Dhe British economy contracted again in April. After a 0.1 percent decline in gross domestic product (GDP) in the previous month, GDP fell by 0.3 percent in April, the ONS statistics office announced on Monday in London. On the other hand, analysts had expected a slight increase in economic output on average. In the three-month period up to and including April, however, GDP rose by 0.2 percent.
The recent weakening has been broad. Service providers, industry and the construction sector all recorded declines. It was the first time since January 2021 that all three major components of GDP had declined, the ONS said.
Industrial production fell most noticeably, which according to the statistical office was due to sharp price increases and ongoing problems in the supply chains. In the service sector, the decline in tracking and testing activity by the national health service NHS – a consequence of the more relaxed corona situation – weighed on.