03:18

Economist discusses UK July GDP contracting by 0.5% in London, UK

Content Partner Cover Image
Content Partner Profile Image
Uploaded by a Newsflare content partner

Buy video

This footage was filmed and produced 13 September 2023.

The UK economy shrank surprisingly sharply in July as the health sector was impacted by further industrial action and retailers were knocked by wet weather.

Data from the Office for National Statistics (ONS) showed that gross domestic product (GDP) contracted by 0.5% in July.

It is the heaviest decline since December last year and comes amid concerns recent interest hikes and persistent inflation could stifle economic growth.

Economists had forecast a 0.2% decline for the month.

It came after a 0.5% monthly increase in June.

Categories

Tags

From the blog

Stories not Stock: 3 Reasons Why You Should Use UGC Instead of Stock Video

Video content is an essential part of a brand’s marketing strategy, and while stock footage has been a reliable go-to in the past, forward-thinking companies are looking to user-generated content for their video needs.

View post
Content Partner Cover Image
Content Partner Profile Image
Uploaded by a Newsflare content partner

Buy video