UK economy 'grew marginally' in April, data shows

Data published by the Office for National Statistics (ONS) recently showed that the UK economy 'grew marginally' in April 2023.

14 Jun 2023

Data published by the Office for National Statistics (ONS) recently showed that the UK economy 'grew marginally' in April 2023.

GDP increased by 0.2% in April, the ONS found. Strengthening trade in pubs and bars helped the economy grow in April after it shrank in March. Falling energy prices have also helped to bolster UK economic activity, the ONS revealed.

However, rising interest rates and mortgage costs meant the construction industry faltered in April. Health sector output also adversely affected economic growth, partly due to strikes carried out by junior doctors.

Commenting on the data, Darren Morgan, Director of Economic Statistics at the ONS, said: 'Over the last three months as a whole, the economy grew a little, driven largely by the construction industries. The services sector dragged growth downwards, partly due to the impact of public sector strikes.'

Free Consultation

Get in touch with us today for a fresh perspective and a free consultation.

Connected Accounting logo

Providing simple to understand accounting services for private and business clients with a hands-on approach. Building strong long-lasting relationships that you can trust.

Connected Accounting Limited | Registered Number: 09617704 | Registered Office: St Albans office

St Albans

Contact Details

St Albans Office:
Connected Accounting, 2 Victoria Square, Victoria Street, St Albans AL1 3TF .

Call us: 01727 537 160

2021 WFA Winners

Reviews and Ratings for Accountant Samuel Troy, Tonbridge
Home | Our Pricing | Resources | Contact us | Accessibility | Disclaimer | Privacy | Help | Site map | © 2024 Connected Accounting. All rights reserved. We use cookies on this website, you can find more information about cookies here.