UK economy contracts unexpectedly in March

Irish Times | May 12, 2022 at 11:28 AM
  • The UK economy unexpectedly contracted in March as the cost of living squeeze saw consumers cut back on spending.
  • It’s almost certain to mark the high point of the year.
  • Further pain looms in October, when the Bank of England expects utilities to increase gas and electricity bills by a further 40 per cent.