The UK economy appeared to be losing steam in April as the recovery from last year’s recession began to falter. This was a major disappointment for Rishi Sunak, who had hoped to use a strong bounceback to boost his chances before the upcoming general election. The Office for National Statistics (ONS) reported that monthly growth slowed after a 0.4% increase in March. The struggling services and manufacturing sectors weighed down the economy, preventing it from maintaining its momentum.
According to a Reuters poll, city economists had predicted that economic activity would flatline. Last month, figures revealed that the economy had grown by 0.6% in the first quarter of the year, marking the strongest rate of quarterly growth since the end of 2021. However, the outlook for the UK economy remains uncertain, with potential for growth to fluctuate in the coming months. Despite these challenges, experts are still optimistic about the long-term prospects for the UK economy and believe that it will eventually recover fully from last year’s recession.