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UK Economy Shrinks Again in Fresh Blow to Starmer & Reeves
Posted
July 11, 2025
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13:31
3:38Now PlayingThe UK economy shrank for a second month-in-a-row in May, as the country struggled to bounce back from the blow dealt by US tariffs and a raft of tax increases. GDP declined by 0.1% in the month before last, after contracting 0.3% in April and leaving the economy at risk of a contraction over the second quarter. the figures deliver a fresh blow to Prime Minister Keir Starmer and Chancellor Rachel Reeves after a recent series of political setbacks. However as inflationary pressures ease -- money markets are betting the BOE will cut interest rates in August and again by the end of the year with further reductions in 2026.
Bloomberg's Chief UK Economist Dan Hanson joined Stephen Carroll and Caroline Hepker on Bloomberg Radio with the details.
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