2025-06-12 18:00
publication
2025-06-12 18:00
The value of British GDP fell by 0.3 percent in April. Compared to March, which is the largest monthly inheritance since October 2023 – Reuters said on Thursday, explaining that this is the result of the USA announcement of the introduction of customs duties and the end of the tax relief on the sale of real estate.
Data from the Office of National Statistics (ONS) appeared a day after the Minister of Finance Rachel Reeves presented a review of public expenditure that covers over 2 trillion pounds. In her opinion, GDP data is “very disappointing”.
The decrease in activity in the real estate and legal services sector, related to the completion of a temporary tax relief for the purchase of a house, is responsible for 0.2 percentage of a total decline in production by 0.3 percentage point in April. In addition, British car manufacturers also recorded lower production and exports to both the United States and the European Union.
The value of the British pound fell by almost half a cent in relation to the dollar, and the profitability of treasury bonds reached the lowest level in a month.
In April, the British export of goods to the US fell by 2.0 billion pounds, which is the largest decline since the start of monthly measurements in 1997.
Reuters reminded that Great Britain is the only large economy that has concluded a trade agreement with the United States aimed at releasing it from the increased US President Donald Trump's duties on the import of aluminum and steel.
The Economy of Great Britain increased by 0.7 percent. In the first quarter of 2025, which may affect the Bank of England's year -round growth forecast to 1 percent.
Earlier, the central bank of Great Britain reduced its growth forecast for 2026 to 1.25 percent. And he stated that he expected duties to lower British production by 0.3 percent. within three years.
It is expected that the decision -makers of the Bank of England will keep their interest rates without changes next week because they are in the face of inflation. In the opinion of economists, cited by Reuters, despite this, two rate discounts are expected in 2025 (PAP)
MZB/ MMS/
