counter Blow for UK economy as GDP falls 0.3% – what it means for YOU – Forsething

Blow for UK economy as GDP falls 0.3% – what it means for YOU

THE UK economy shrunk in April and by more than expected, official figures show.

The Office for National Statistics (ONS) said Gross Domestic Product (GDP) went down by 0.3% that month.

Services and manufacturing both contributed to the fall.

However GDP still grew over the last three months as a whole, with signs that some activity may have been brought forward from April to earlier in the year.

It comes after the economy grew by 0.7% in the quarter to March.

At the time, it had grown more than expected.

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