14 Jun 2023
Data published by the Office for National Statistics (ONS) recently showed that the UK economy 'grew marginally' in April 2023.
GDP increased by 0.2% in April, the ONS found. Strengthening trade in pubs and bars helped the economy grow in April after it shrank in March. Falling energy prices have also helped to bolster UK economic activity, the ONS revealed.
However, rising interest rates and mortgage costs meant the construction industry faltered in April. Health sector output also adversely affected economic growth, partly due to strikes carried out by junior doctors.
Commenting on the data, Darren Morgan, Director of Economic Statistics at the ONS, said: 'Over the last three months as a whole, the economy grew a little, driven largely by the construction industries. The services sector dragged growth downwards, partly due to the impact of public sector strikes.'