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UK slowdown fears mount as GDP unexpectedly shrinks in April

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Reuters UK

By William Schomberg and Andy Bruce LONDON (Reuters) -Britain’s economy unexpectedly shrank in April, official figures showed on Monday, adding to fears of a sharp slowdown just three days before the Bank of England announces the scale of its latest interest rate response to the surge in inflation. Gross domestic product contracted by 0.3% after falling by 0.1% in March, the first back-to-back declines since April and March 2020, at the start of the coronavirus pandemic. Economists polled by Reuters had on average expected GDP to grow by 0.1% in April from March. GDP would have expanded by 0.1…

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