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Reading: General Election 2024: According to official data, the UK economy stagnated in April.
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Baner Club > Blog > Ecnomics > General Election 2024: According to official data, the UK economy stagnated in April.
EcnomicsElection

General Election 2024: According to official data, the UK economy stagnated in April.

Official numbers showing the UK economy stagnated in April have been used by the government's detractors as proof that the much-heralded plan by the Conservatives is failing.

Last updated: 2024/06/12 at 10:01 AM
Published June 12, 2024
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The Office for National Statistics (ONS) reported that April’s growth was nil, as opposed to the 0.4% growth rate observed in March.
The economy is expected to grow, which makes the election’s timing even more odd.

The most costly area in the UK to purchase a property by the sea

The final ONS GDP (gross domestic product) report before the election stated that April rainfall in the UK was 155% of the long-term average.

The crunchers reported that, as a result, construction output fell by 1.4%, partly due to low demand.

Production declined by 0.9% while the services sector, which generates more than 80% of the UK’s total output, grew by just 0.2%.

Even with the focus on the impact of rain, the figures indicate a blow to Prime Minister Rishi Sunak’s main electoral claim—that the economy is rebounding from the double blow of the COVID-19 outbreak and the rising cost of living.

After 0.6% growth in the first quarter of this year, the UK emerged from a brief recession by the end of 2023.

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admin June 12, 2024 June 12, 2024
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