News in Review Wednesday 17th August 2022
In a week where droughts were officially declared across England, the Office for National Statistics’ (ONS) latest assessment of the UK economy revealed tough economic conditions. In the second quarter, the UK’s gross domestic product (GDP) fell by 0.1%, largely the result of a 0.6% monthly dip in June. According to ONS, June’s poor reading was partly attributable to falling retail sales and the Queen’s Platinum Jubilee Bank Holiday, which resulted in two fewer working days.
