We’re on the brink of recession after UK economy shrinks again
The Metro says the UK economy could be heading for a recession and the cost of living will rise even higher.
That’s the dire warning of a leading business group about the outlook for the country’s finances in the year ahead.
The CBI’s forecast came hours before official statistics confirmed the economy shrank again in April.
Office for National Statistics data revealed that gross domestic product fell by 0.3%, compared to a fall of 0.1% in March.
The impact of the winding down of the test and trace programme on the health sector and the hit to manufacturing by rising energy prices were the primary drags on growth, the ONS said.
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