UK economy shrinks 0.1% in April as services weaken
The UK economy contracted by 0.1% in April, according to official data released on Friday. The fall was driven by weaker output in the services sector, while construction partly offset the decline. Analysts had expected a small contraction, after stronger-than-expected growth in March.The Office for National Statistics said the economy grew by 0.7% in the three months to April compared with the previous three-month period. That suggests the monthly fall did not fully reverse the broader improvement seen over the quarter. The same data also showed the economy grew by 0.3% in the month, confounding forecasts of a small contraction,... [Continue Reading]
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