The UK’s economy remained stagnant for a second consecutive month in July, following zero growth in June, according to the Office for National Statistics (ONS).
Gross Domestic Product (GDP) flatlined, contrary to expectations of a slight 0.1% rise.
The latest figures are significant as they mark the first data released since the Labour Party, led by Sir Keir Starmer, took power after the 4 July general election.
Chancellor Rachel Reeves acknowledged the ongoing economic challenges, stating that long-term decisions were needed to address the UK’s economic stagnation over the past 14 years.
While the services sector grew by 0.1% in July, with accommodation and food services seeing notable gains, other areas like manufacturing and construction experienced declines.
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