Now temporary growth has faded away, the better gauge of the economy makes for unpleasant reading. The UK is being hobbled by low growth and high taxes, with the two reinforcing each other.

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UK economy shrinks in April as US tariffs kick in

Britain's economy shrank more than expected in April following a tax hike on UK businesses and a record drop in exports to the United States due to President Donald Trump's tariffs, official data ...

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UK economy contracts - with record fall in exports to the US after Trump tariff hikes

The UK economy shrank more than expected in April as the worst of President Trump's tariffs hit. The standard measure of economic output (GDP) contracted a sharp 0.3% in April, data from the Office ...

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UK economy slows more than expected as GDP falls 0.3%

The UK economy shrunk by 0.3 per cent in April, latest data from the ONS shows. It was the biggest drop in GDP since October 2023 and follows growth of 0.2 per cent in March. The largest contributor ...

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Economy shrinks in blow for Reeves

On Wall Street, the Dow Jones Industrial Average finished a day of choppy trading little changed, at 42,865.77, while the S&P 500 fell 0.3pc, ending at 6,022.24, and the Nasdaq lost 0.5pc, closing at ...

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