(Reuters) -A swift rebound in Britain’s economy in early 2024 came to a halt in April, driven by sharp declines in industrial and construction output in another challenging set of data for Prime Minister Rishi Sunak ahead of the July 4 election.
Gross domestic product was flat in April after a 0.4% month-on-month rise in March, the Office for National Statistics said.
A Reuters poll of economists had pointed to no growth for monthly gross domestic product in April.
The figures follow labour market data on Tuesday that showed falling employment and rising unemployment, but continued strong wage growth.
Rachel Reeves, who stands to become finance minister if the opposition Labour Party wins the election, sought to use the data to attack one of Sunak’s main election campaign messages.
“Rishi Sunak claims we have turned a corner, but the economy has stalled and there is no growth,” she said immediately after the figures were published.
Looking ahead, addressing the root causes of the UK economy stagnation remains a priority for policymakers. Transitioning from stagnation to growth requires concerted efforts across multiple fronts.
Moreover, leveraging technology and digital transformation could unlock new opportunities for economic diversification and resilience.
Additionally, fostering an inclusive economy that benefits all segments of society is essential.
Furthermore, strengthening international partnerships and trade relations could enhance the UK’s position in the global economy. Through collaborative efforts and proactive policymaking, the UK aims to navigate through the challenges posed by economic stagnation and build a prosperous future for all.
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