The UK’s economy showed no growth in April as a critical general election approaches.
- Monthly GDP figures from the Office for National Statistics indicate a stagnation in economic growth for the month of April.
- April’s economic data highlighted a 2.3% fall in retail sales volumes, hampered by adverse weather conditions.
- Despite growth in services output, the retail sector detracted from overall economic progress.
- Political leaders clash over the interpretation of these economic figures, influencing upcoming election debates.
The United Kingdom’s economic performance showed a halt in growth during April, as evidenced by the latest data released before the general election scheduled for July. According to the Office for National Statistics, the monthly real gross domestic product (GDP) did not grow in April following a 0.4% increase recorded in March 2024. In the three months leading to April, however, GDP witnessed a rise of 0.7% when compared to the preceding three months ending in January.
While there was a recorded increase in services output by 0.2% for the fourth consecutive month, the retail sector’s downturn, marked by a 2.3% drop in sales volumes, posed a challenge to the overall growth. This decrease followed a smaller decline of 0.2% in March, largely attributed to unfavourable weather impacting consumer footfall and spending.
The Conservative party’s recent manifesto claims that economic indicators such as inflation and real wages suggest an improvement, as echoed by Prime Minister Rishi Sunak. Sunak highlighted ambitious plans to enhance apprenticeship opportunities, make investments in local commerce areas, and assist small businesses through favourable business rates.
These economic figures have prompted political debate. Shadow Chancellor Rachel Reeves expressed scepticism over the Conservative party’s optimistic economic outlook. Through social media, Reeves criticised the lack of growth, despite claims of economic recovery, stating, “Rishi Sunak claims we have turned a corner, but the economy has stalled and there is no growth.”
As the UK general election draws near, the nation’s economic stagnation adds a critical dimension to the political discourse.
