UK economy without growth in April, Sunak worried

While Chancellor of the Exchequer Jeremy Hunt insisted the "economy is getting stronger", Labour's shadow Chancellor of the Exchequer Rachel Reeves said the "economy is stagnant".

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Photo: Shutterstock
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

Britain's economy saw no growth in April, a blow to Prime Minister Rishi Sunak's ruling conservatives ahead of the country's July 4 general election.

The Office for National Statistics said today that wet weather dampened consumer spending and construction during the month. The monthly figures come after economic growth of 0,6 percent during the first quarter of this year, a number that Sunak has used a lot in the campaign so far.

While Chancellor of the Exchequer Jeremy Hunt insisted the "economy is getting stronger", Labour's Shadow Chancellor of the Exchequer Rachel Reeves said the "economy is stagnating".

The latest growth data comes a week before the next inflation report and when the Bank of England will make a further interest rate decision.

Hopes within the Conservative Party that the bank would cut its main interest rate from a 16-year high of 5,25 percent have faded after inflation failed to fall as much as expected in April.

Although inflation has decreased at an annual rate of 2,3 percent, it remains slightly above the bank's target and is expected to rise slightly in the coming months.

High interest rates that "soothe" the economy by making borrowing more expensive have helped to moderate inflation, but have also weighed on the British economy.

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