NEW DELHI: Ahead of general elections scheduled for July 4 in UK, the British economy recorded zero growth in April, official figures showed on Wednesday. The stagnation came after the economy recorded 0.4% growth in March.
Criticising British PM Rishi Sunak over the state of economy, Labour Party leader Rachel Reeves said, “Rishi Sunak claims we have turned a corner, but the economy has stalled and there is no growth.”
“The stagnation in GDP in April doesn’t mean the economic recovery has been extinguished, but it’s hardly great news for the prime minister three weeks ahead of the election,” UK economist Paul Dales said, AFP reported.
In April, service industries saw a modest growth of 0.2%, whereas production experienced a decline of 0.9% and construction faced a 1.4% reduction.
Earlier this year, Britain rebounded from a brief recession, witnessing growth in the first quarter.
The UK economy faced a mild contraction for two consecutive quarters in the latter part of 2023, satisfying the technical criteria for a recession, driven by heightened inflation.
(With inputs from agencies)