The UK economy shrank more than expected in July, driven by strike action by NHS workers and teachers, according to official figures.
Wet weather also hit the construction and retail industries, the Office for National Statistics (ONS) said, causing the economy to contract by 0.5%.
The figures were worse than analysts had predicted and continue a trend of weak economic growth in the UK.
The figures were worse than analysts had predicted and continue a trend of weak economic growth in the UK.
Darren Morgan, director of economic statistics at the ONS, said that while July saw the economy shrink, output across the services, production and construction sectors was growing in the three months to July.
He said despite the UK being hit by strike action and poor weather this summer, “a busy schedule of sporting events and increased theme park visits provided a slight boost” to the economy.
Chancellor Jeremy Hunt said the latest economic figures showed “many reasons to be confident about the future” and that the UK economy was now on course to grow faster than Germany, France and Italy.
The figure produced by the ONS to show the health of the UK economy is known as gross domestic product (GDP).
The UK economy shrank more than expected in July, driven by strike action by NHS workers and teachers, according to official figures.
The figures were worse than analysts had predicted and continue a trend of weak economic growth in the UK.
Wet weather also hit the construction and retail industries, the Office for National Statistics (ONS) said, causing the economy to contract by 0.5%.
Darren Morgan, director of economic statistics at the ONS, said that while July saw the economy shrink, output across the services, production and construction sectors was growing in the three months to July.
The figures were worse than analysts had predicted and continue a trend of weak economic growth in the UK.
The figures were worse than analysts had predicted and continue a trend of weak economic growth in the UK.
Darren Morgan, director of economic statistics at the ONS, said that while July saw the economy shrink, output across the services, production and construction sectors was growing in the three months to July.
He said despite the UK being hit by strike action and poor weather this summer, “a busy schedule of sporting events and increased theme park visits provided a slight boost” to the economy.
Chancellor Jeremy Hunt said the latest economic figures showed “many reasons to be confident about the future” and that the UK economy was now on course to grow faster than Germany, France and Italy.
The figure produced by the ONS to show the health of the UK economy is known as gross domestic product (GDP).
#Strikes #wet #weather #economy #shrink
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