Credible News
  • Home
  • Conflict
  • Crime
  • Education
  • Economy
  • Entertainment
  • Foreign
  • Health
  • ICT
  • Legal
  • Politics
  • Security
  • Sports
No Result
View All Result
  • Home
  • Conflict
  • Crime
  • Education
  • Economy
  • Entertainment
  • Foreign
  • Health
  • ICT
  • Legal
  • Politics
  • Security
  • Sports
No Result
View All Result
Credible News
No Result
View All Result

UK economy stalls in April, official data shows

Credible News by Credible News
June 12, 2024
in Development, Economy, Foreign, Human Interest, News
0
UK economy stalls in April, official data shows
0
SHARES
3
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The UK economy recorded no growth in April, according to the Office for National Statistics.

Gross domestic product, GDP, was flat during the month, following growth of 0.4 per cent in March, the ONS said.

The sluggishness emerged after the economy recorded its fastest growth in two years from January to March.

The data also followed labour market data on Tuesday that showed falling employment and rising unemployment, but continued strong wage growth.

The figures present a headache for Rishi Sunak, who has pegged much of his general election campaign on a recent record of economic improvement under his Conservative government.

The data comes before the Bank of England makes its next decision on interest rates next week.

Experts have predicted the Bank’s Monetary Policy Committee is unlikely to lower interest rates without further progress on inflation and a cooling in the labour market.

Economists had predicted that GDP would be flat in April, held down by weaker-than-usual retail sales over the Easter period.

It comes after the economy grew by an estimated 0.6 per cent in the first quarter of 2024, pulling the UK out of a small recession at the end of last year.

READ ALSO: UK’s Rishi Sunak pledges to introduce immigration cap if re-elected

On a quarterly basis, real gross domestic product is estimated to have grown by 0.7 per cent in the three months to April, compared with the three months to January 2024.

Growth in April was driven by the services sector, with information and technology and the professional and scientific expanding rapidly. However, manufacturing and construction output, both down 1.4 per cent in monthly terms, performed worse than forecast.

Luke Bartholomew, deputy chief economist at asset management giant abrdn, said monthly GDP data can be volatile, and that it is ‘important not to put too much stead in just one month of data and look at the broader trend across several months.’

He added: ‘And on that measure, a picture of solid recovery from last year’s recession emerges. This should continue as the year progresses as households benefit from strong real income growth amid falling inflation.’

Services output grew by 0.2 per cent in April, the fourth consecutive month of growth, while production output fell by 0.9 per cent in April following growth of 0.2 per cent in March.

Construction output fell by 1.4 per cent in April, its third consecutive monthly fall, and was down by 2.2 per cent in the three months to April.

Credible News.ng

Tags: EconomyUK
Previous Post

Tinubu promises sending bill on new minimum wage to NASS soon

Next Post

FG places $200m tag for bidders of deep offshore oil fields

Credible News

Credible News

Next Post
FG places $200m tag for bidders of deep offshore oil fields

FG places $200m tag for bidders of deep offshore oil fields

ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Kwara State university campus in Osi ready for first lectures

Kwara State university campus in Osi ready for first lectures

November 18, 2024
Police warn Lagosians against economic disturbance during NLC protest

Police in Kano urges caution as Muslims begin Ramadan

March 11, 2024
In the dark: UCH’s mounting power crisis

Is UCH in darkness: Need for responsible journalism!

February 9, 2025
Tiktok

Court remands Tik Toker for posting President Tinubu’s obituary

July 25, 2025
Corper recounts ordeal of Agunechemba attack, seeks prosecution

Corper recounts ordeal of Agunechemba attack, seeks prosecution

2

ADC begins online membership registration

2
Biden arrives Israel

Biden visits Israel amidst killing of more Palestinians

1
handcuffs

Police arrests 34-year-old man for raping 90-year-old woman

1

Israeli strike on Lebanon may derail US-Iran peace efforts

June 1, 2026
Writer, Journalist, Prof.Okey Ndibe arrived Lagos from the United States June1.

DSS denies arrest, explains status of Ndibe

June 1, 2026
Court adjourns DSS ₦5.5bn suit against SERAP

Fight terror financiers, CSO advises SERAP

June 1, 2026
DSS DG, Mr Oluwatosin Adeola Ajayi

Christian Group commends DSS after arrest of Papiri suspects

June 1, 2026

Recent News

Israeli strike on Lebanon may derail US-Iran peace efforts

June 1, 2026
Writer, Journalist, Prof.Okey Ndibe arrived Lagos from the United States June1.

DSS denies arrest, explains status of Ndibe

June 1, 2026
Court adjourns DSS ₦5.5bn suit against SERAP

Fight terror financiers, CSO advises SERAP

June 1, 2026
DSS DG, Mr Oluwatosin Adeola Ajayi

Christian Group commends DSS after arrest of Papiri suspects

June 1, 2026
Credible News

At Credible News we seek, process and serve news, opinions and analyses that are verifiable and reliable.
We also provide readers with authentic and credible facts and figures, news, opinions and analyses to make informed choices.

Follow Us

Browse by Category

  • Accident
  • Agriculture
  • Banking
  • Conflict
  • Crime
  • Development
  • Economy
  • Education
  • Entertainment
  • Fashion
  • Features
  • Foreign
  • Global Trade
  • Health
  • Human Interest
  • ICT
  • Interviews
  • Legal
  • Life Style
  • News
  • Oil & Gas
  • Opinion
  • Politics
  • Religion
  • Security
  • Sports
  • Travel
  • Trending
  • Women

Recent News

Israeli strike on Lebanon may derail US-Iran peace efforts

June 1, 2026
Writer, Journalist, Prof.Okey Ndibe arrived Lagos from the United States June1.

DSS denies arrest, explains status of Ndibe

June 1, 2026
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2024 Credible News - The place for all factual stories. Designed by VintoICT Solutions.

No Result
View All Result
  • Home
  • Conflict
  • Crime
  • Education
  • Economy
  • Entertainment
  • Foreign
  • Health
  • ICT
  • Legal
  • Politics
  • Security
  • Sports

© 2024 Credible News - The place for all factual stories. Designed by VintoICT Solutions.