UK economy flatlines again in July, below expectations
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LONDON — The U.K. economy continued to flatline in July on a month-on-month basis, flash figures published from the Office for National Statistics showed Wednesday.
Gross domestic product (GDP) came in below the expectations of economists polled by Reuters, who had forecast growth of 0.2%.
No GDP growth was logged in June.
The U.K. economy has recorded a modest but steady expansion almost every month so far this year, having emerged from a shallow recession at the start of the year.
The reading is the first under Prime Minister Keir Starmer’s new Labour government, which was elected on July 4.
It also comes as the Bank of England prepares to meet next week for its latest interest rate decision, after cutting rates for the first time in four years last month.