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Household Spending Keeping Economy Afloat
GDP grew by 0.2 per cent in April relative to March, driven by an increase in services sector output which was partially offset by falls in production and construction output. The largest positive contributors to GDP were growth in wholesale and retail trade, and information and communication, while the largest negative contributor was manufacturing; these contributions are consistent with the longer-term trend of household spending driving growth. With the Bank Rate set to rise further over the coming months, curbing demand, it is likely that UK growth will continue to be anaemic at best.”Monthly GDP grew by 0.2 ... (full story)