The British economy has decreased unexpectedly in May, even after the worst price of Donald Trump was interrupted, official figures have shown.
A standard measurement of economic growth, the gross domestic product (GDP), contracted 0.1% in May, according to the National Statistics Office (ONS).
Rather than a fall being anticipated, growth of 0.1% was planned by economists interviewed by Reuters, because large falls in production and construction have been observed.
He followed a 0.3% Contraction in AprilWhen Mr. Trump announced his specific prices in the country and sparked a world trade war.
A 90 -day break on these import taxes, which has been extendedallowed more normality to resume.
A “disappointing” but mixed image
This is a new “disappointing”, said Chancellor Rachel Reeves. She and the government as a whole said on several occasions that the growth of the economy was their number one priority.
“I am determined to launch economic growth and keep this promise,” she added.
But the image was not so bad.
Growth recorded in March was revised upwards, also indicating that companies have invested in order to prepare for prices. Rather than 0.2%GDP, the ONS said on Friday that the figure was actually 0.4%.
He showed that companies have advanced the activity to be ready for additional taxes. Companies were struck by higher contributions to the employer’s national insurance in April.
Expansion in March means that the economy has grown up when the three months are examined together.
While a drop in interest rates in August was already expected, investors increased their bets by 0.25 percentage points of decrease in the basic interest rate of the Bank of England.
Why has the economy decreased?
The manufacturing reductions are mainly due to the manufacture of slowed down cars, less oil and gas extraction and the pharmaceutical industry.
The fall was not greater because the service industry – most of the economy – has extended with law firms and computer programmers with a good month.
He compensated for a “very low” month for retailers, said the ons.
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