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Podcast: Beyond Currency
Episode: 12 April 2022 - UK economy slowing significantly
Description: Industrial and manufacturing output in the UK slumped into negative territory as the headwinds facing the economy began to bite.
Industrial activity fell by -0.6% from 0.7% in February, while manufacturing fell to -0.4% from 0.9%. Year-on-year, industrial production halved to 1.6% from 3%, while manufacturing fell from 52.3% to 3.6%.
While these falls were anticipated and these sectors make up just 20% of total GDP, it is indicative of how the economy is slowing as the headwinds that have been forecast take effect. This sets the start of a trend that will accelerate when increases in the cost of energy and tax payment are factored in.
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