Britain’s economy The manufacturing sector was flat in July as the biggest contraction for one year, which makes up a bumper month on high street.
National statistics office (ONS) said that there was a zero increase in GDP (Gross domestic product) The month in July, compared to an increase of 0.4% in June.
This pulls the activity back from 1.3% after the manufacturing sector – the biggest contraction since July 2024.
This increased the broad economy, with Service sector 0.1% thanks for the expansion of 0.6% for retail and Construction Growing 0.2%.
Liz Mcken, director of Economic Statistics, said: “The growth in the economy has continued at a slow pace in the last three months. While services have increased, production progressed.
“Within services, health, computer programming and office assistance services all performed well, while the decline in production was powered by comprehensive -based weakness in manufacturing industries.
“GDP showed no increase in the latest month, in which construction offset due to increase in services and declines in production.
“The decline in production was inspired by widespread-based weakness in manufacturing industries.”
Services increased by 0.4 percent and increased by 0.6 percent in July for three months, contributing to the total increase of 0.2 percent for the economy during the summer period.
However, this means that in the words of an expert, in the words of an expert, the economy “grinds a stop.” Investment strategist Lindsay James, invested in the quulter, said that areas which increased in the last three months are also slowing down – direct results of this Government Increase costs for employers.
Ms. James said, “After the first half of the year, Britain’s economic growth is slowly stopping once again.”
“The GDP failed to grow month after-month in July, and slowed down to only 0.2 percent based on three-mana. The increase was mainly operated by services and construction areas, but production has fallen, but although, development in these areas is slowing down and possibly the results of the work done by the labor government, which is a significant impact in business.
“The summer is now over and the economy is considered to get out of its sleep, now we are facing uncertainty under the budget in November, which gives the Chancellor to public finance in view of the uncertain situation. It is estimated that the fiscal hole is shown anywhere between £ 20bn and £ 50bn.”
On the latest figures, a spokesman of the Treasury said: “We know that there is more to promote development, because, while our economy is not broken, it is stuck.
“This is the result of young years, which we are firm to reversed through our plan for change. We are progressing: Vikas was the fastest in G7 this year; since the election, interest rates have been cut five times, and the actual wages have increased rapidly, which he did under the previous government.
“To create more work to build an economy, and rewards, work for working people. So we are cutting unnecessary red tapes, changing the scheme system to achieve the construction of Britain, and investing billions of pounds in cheap homes, sizes and local transport across the country.”
In response, Sir Mail Struggle MP, Shadow Chancellor, The Exhikaer, said: “Any economic development is welcome – but this government is distracted by the problem that is facing the country.
“While the government does a scam from one scam to another, the cost of borrowing recently reaches a 27 -year high – no believer in labor that increases painful tax, but it is sure that everything is certain.” It is rarely surprised that the star has taken away the reaves of control over the budget. But it is not enough to bypass it – he should also reject his failed economic approach that has made Britain poor. ,
Ben Jones, the chief economist of the CBI, said: “The sun may have picked up consumers in July, but the broad economy got stuck in the shade. The development areas were uneven, highlighting that the underlying demand remains more fragile. Speculations about new business taxes are casting a long shade.
“The government cannot make its way for development and continue raiding corporate cofers. With rapid contact in the autumn budget, the Chancellor will have to give a decisive, pro -goth package by committing serious tax improvement. This is the structure of our system – from punitive business rates to restrictive VAT Threasold and Stamp duty – which does not make up economic progress.”
Additional reporting by PA