The UK economy stagnated in April, a blow to Rishi Sunak’s claim that it has turned a corner.
UK GDP was unchanged month-on-month in April, new data from the Office for National Statistics shows, following growth of 0.4% in March.
That is in line with City expectations, and shows the economy struggled to maintain momentum in April after leaving recession in the first quarter of 2024.
Britain’s economy was dragged down by the factory sector, and by the building sector, in April.
The ONS says: • Services output grew by 0.2% in April 2024, its fourth consecutive monthly growth, and also grew by 0.9% in the three months to April 2024. • Production output fell by 0.9% in April 2024 following growth of 0.2% in March 2024, but grew by 0.7% in the three months to April 2024. • Construction output fell by 1.4% in April 2024, its third consecutive monthly fall, and fell by 2.2% in the three months to April 2024.
However, the Euro 2024 men’s football tournament could give the UK economy a lift this summer.
A survey from the British Retail Consortium (BRC) has found that 6% of shoppers expect to buy a new TV or electronic device to watch the tournament, which begins on Friday, and in which both England and Scotland are playing.
Some 13% of people plan to spend more on groceries, beer, wine and spirits and takeaways to enjoy while watching the Euros; retailers could also benefit from merchandise sales.
Kris Hamer, director of insight at the BRC, says: "After sluggish spring sales, shoppers are expected to kick off their summer spending at the Euros. Here’s hoping England and Scotland can make it all the way to the final.”
The agenda • 7am BST: UK GDP report for April • 7am BST: UK trade report for April • 7am BST: German CPI inflation report for May • 1.30pm BST: US CPI inflation report for May • 7pm BST: US Federal Reserve sets US interest rates
… there is a good reason why not to support the Guardian
Not everyone can afford to pay for news right now. That is why we keep our journalism open for everyone to read. If this is you, please continue to read for free.
But if you are able to, then there are three good reasons to support us today.
1
Our quality, investigative journalism is a powerful force for scrutiny at a time when the rich and powerful are getting away with more and more
2
We are independent and have no billionaire owner telling us what to report, so your money directly powers our reporting
3
It doesn’t cost much, and takes less time than it took to read this message
Help power the Guardian’s journalism in this crucial year of news, whether with a small sum or a larger one. If you can, please support us on a monthly basis . It takes less than a minute to set up, and you can rest assured that you're making a big impact every single month in support of open, independent journalism. Thank you.
You are receiving this email because you are a subscriber to Business Today. Guardian News & Media Limited - a member of Guardian Media Group PLC. Registered Office: Kings Place, 90 York Way, London, N1 9GU. Registered in England No. 908396
Is the Tesla board in charge of a public company or the Elon Musk fan club? 
