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FTSE 100 Live: Losses ease by the close but inflation fears and weak GDP fuel growth concerns

By City Staff

GDP contracted by 0.1% in March, adding to stagflation fears as the UK economy feels the pressure from rising prices.

The decline was driven by the powerhouse services sector and meant the UK recorded its lowest quarterly growth rate in a year, according to the Office for National Statistics.

The increase of 0.8% for the first three months of the year was weaker than 1.3% in the previous quarter and the 1% expansion forecast.

Read more on today’s GDP release

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Dive Deeper:
UK growth slows to weakest for a year as recession fears grow
The Office for National Statistics said GDP rose by 0.8% between January and March, down from growth of 1.3% in…
UK recession fear as cost of living crisis deepens
Weakest growth for a year
Recession fears as UK economic growth slows to weakest seen so far this year
Official figures showed that the UK economy contracted in March as fears mounted that the cost of living crisis would…
What is a recession and will the UK face one in 2022?
The Bank of England has warned that the UK faces a “sharp economic slowdown”
One subscription that gives you access to news from hundreds of sites
'Incompetent' PM and Chancellor blamed as UK heads for recession
BORIS Johnson’s “catalogue of failure” is inflicting poverty on millions of people, the Scottish Greens have warned as the UK was forecast…
Increase Universal Credit by £25 a week and give one-off £250 payment, government urged
The call came from leading experts who have warned they believe more than 250,000 households will “slide into destitution” next…
Get all your news in one place