UK economy shrinks unexpectedly by 0.1% in blow to Rachel Reeves

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UK economy shrinks unexpectedly by 0.1% in blow to Rachel Reeves - short news

May’s fall in GDP follows firms cutting jobs amid higher taxes and Trump tariff uncertainty

Britain’s economy unexpectedly shrank in May, official figures show, in a blow for chancellor Rachel Reeves.

The Office for National Statistics said gross domestic product (GDP) fell by 0.1% in May, missing City predictions of a 0.1% monthly expansion.

source: The Guardian - 11.07.2025

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Depressing data comes as Rachel Reeves and her team were daring to hope business confidence was recovering

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