Economic Monitor
Unrelenting clouds over the UK economy
UK GDP growth contracted in April by 0.4% due to both a fall in car manufacturing and a fading of the boost from the early completion of orders ahead of March 29. There are many signs that the economic activity in the UK has slowed. The car industry saw plants closed down in April (under the expectation that the UK was leaving the EU end of March) and 12 months in a row of output decline (data available up to May, including).
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