UK Economy Stalls as Rain Holds Back Retail and Construction.

SUNAK, Rishi, 1980-; CONSUMPTION (Economics); ECONOMIC statistics; SOCIAL science research; ECONOMIC research; INTEREST rates; ECONOMIC recovery; BALANCE of trade

The UK economy experienced a slowdown in April, with gross domestic product remaining flat compared to the previous month. This is a setback for Prime Minister Rishi Sunak, who has campaigned on evidence of economic improvement. The slowdown is attributed to high interest rates and the impact of wet weather on retail sales and construction output. The Labour opposition has capitalized on these figures to challenge Sunak's claims of economic growth. The Bank of England hopes that slower demand will reduce inflation and allow for a rate cut later this year. However, private sector economists anticipate only modest growth for the rest of the year. [Extracted from the article]

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