UK economy flatlines in July in grim news for Rachel Reeves | Economic growth (GDP)

According to official figures, the British economy flattened in July as it went to a challenging budget in Grim News for Rachel Reeves.

According to the National Statistics Office, there was a slowdown compared to June, when the economy grew by 0.4%.

The GDP was strongly expanded in the first half of the year and made England the fastest growing economy in the G7, but was expected to slow down in the second half.

Ones said that the improvements in the service and construction sectors were balanced and balanced in July.

In July, zero growth will raise questions about the Labor Party’s promise to launch the economy.

Ones said that GDP fell from three months to June from three months to June compared to April from April to June.

Ones Economic Statistics Director Liz McKEANANEN said: “The growth in the economy continued to slow down in the last three months as a whole. While the growth of the services continued, production increased further.

“Services performed well in health, computer programming and office support services, and production decreases were directed by a wide -based weakness among manufacturing industries.”

Business groups accused the increase in £ 25 billion in the national insurance contribution to the employer, which entered into force in April with a significant increase in the “national life fee ından because Reeves put the brakes to grow.

The chancellor is expected to offer a tax increase to compensate for an expected decline for predictions of budget responsibility when it delivers its second budget on November 26th.

The slowdown in growth comes with higher inflation than expected, increasing to 3.8% in July and asking investors to restrain the expectations of more interest rate deduction from the UK Bank in the coming months.

The Bank’s nine -member monetary policy committee is expected to keep its rates at a rate of 4% when it meets next Thursday.

Works and inflation data will give more details about the status of the economy due to its publication at the beginning of the week – the policy makers have repeatedly warned that known defects in ONS data make it difficult to obtain a clear picture.