UK Economy Shrinks by the Most Since 2023 as US Tariffs Hit
Britain’s economic output fell sharply in April, reflecting shockwaves from US President Donald Trump’s announcement of wide-ranging tariffs and the end of a tax break on property sales, official data showed on Thursday.
Gross domestic output shrank by a larger-than-expected 0.3 per cent in April from March – the biggest monthly drop since October 2023 and more than the 0.1 per cent fall forecast in a Reuters poll, following 0.2 per cent growth in March.
“After increasing for each of the four preceding months, April saw...
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