UK economy saw zero growth in July

The UK economy saw zero growth in July, according to the latest data. This follows the biggest contraction in manufacturing output in a year, indicating a slowdown in economic activity. The Office for National Statistics reported that the economy remained stagnant in July, with no growth recorded compared to the previous month. This was below expectations and highlighted the ongoing challenges facing the UK economy. The lack of growth was largely driven by a decline in manufacturing output, which fell by 0.7% in July. This was the largest drop in a year, suggesting that the manufacturing sector is facing headwinds. The stagnation in the economy raises concerns about the overall health of the UK's economic recovery, particularly as the country grapples with high inflation, rising interest rates, and the ongoing impact of the COVID-19 pandemic. Policymakers will likely be closely monitoring the situation and considering appropriate measures to stimulate economic growth.