UK economy shrank in April as tariffs, tax hike kicked in

Business

LONDON Britain's economy shrank more than expected in April, official data showed Thursday, in the first month of the Labour government's business tax hike and U.S. President Donald Trump's reciprocal tariffs onslaught. Gross domestic product contracted 0.3 percent in the month, compared to 0.2 percent growth in March, the Office for National Statistics said in a statement. That falls below the 0.1 percent contraction expected by economists. The government on Wednesday laid out its priorities

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UK economy shrank in April as tariffs, tax hike kicked in https://www.hurriyetdailynews.com/ - 12.06.2025 10:07

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UK economy shrank in April as tariffs, tax hike kicked in https://www.hurriyetdailynews.com/ - 12.06.2025 10:07