UK economy shrinks by 0.5% in July amid wet weather and strikes
by Phillip Inman from on (#6EQ27)
Manufacturing, services and construction sectors contract for first time since summer of 2022
The UK economy shrank in July by 0.5% amid industrial action and extremely wet weather, official figures indicate, heightening fears of a recession in the second half of the year.
Analysts expected gross domestic product (GDP) to fall back by 0.2% but the Office for National Statistics said that strikes by junior doctors reduced health service activity, while retailers who had benefited from a warm June suffered in July, which was the sixth wettest on record.
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