The latest GDP data shows the urgent need for the next Government to address Britain’s economic stagnation, says the Resolution Foundation.
The economy saw no growth in April, halting the 0.6% momentum from Q1 2024. The services sector’s growth slowed to 0.2%, driven by declining retail sales, while both manufacturing and construction contracted.
The Foundation notes that GDP per capita, closely linked to living standards, has grown by just 4.3% in the 16 years since the financial crisis, compared to 46% in the 16 years before.
James Smith, research director at the Resolution Foundation, said: “After a strong start to the year, falling retail sales and contracting manufacturing output have brought growth to a halt in April.
“The latest data offers a snapshot of Britain’s wider growth challenge, and should remind politicians that ending stagnation should be the central task of whoever wins the next election.”
