UK economy shrinks for first time in eight months in April
UK economy contracts for first time since last August

Britain’s economy contracted last month for the first time in eight months amid signs that the Iran war is beginning to take its toll on some sectors.

GDP decline in April

The Office for National Statistics (ONS) said gross domestic product (GDP) declined by 0.1% in April in a sharp pull back from growth of 0.3% in March and 0.4% in February.

The decline was driven by a 0.2% fall in services, which was partially offset by a 0.1% rise in construction and 0.4% growth in manufacturing.

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Three-month growth remains positive

In the three months to April, GDP grew by 0.7%, according to the ONS.

Liz McKeown, ONS director of economic statistics said: “The economy grew in the latest three months as a whole, reflecting strong growth in February and March.

“This was despite April showing a small fall.”

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  • GDP
  • ONS
  • Iran