Figures released today by the Office for National Statistics show that the UK gross domestic product is estimated to have fallen by 0.2% in Q2 (April-June) 2019.
Growth in the services sector output slowed to 0.1% in Quarter 2 2019.
The production sector contracted by 1.4% in Q2 2019, providing the largest downward contribution to GDP growth. This fall was driven by a sharp decline in manufacturing output, reflecting increased volatility in the first half of 2019.
Commenting, Liberal Democrat Treasury and Business spokesperson, Chuka Umunna MP said:
"We already knew real wages are down, poverty is up, inequality is at 1980s levels, and growth is geographically unbalanced under the Tories. Now we have confirmation that the Tories’ plan to crash the UK out of the EU has crashed our economy. Pursuing a ‘no deal’ Brexit is a political choice without a mandate: these figures show people’s jobs and livelihoods are being sacrificed at the altar of political extremism.
“The Liberal Democrats are the biggest and strongest Remain party in the UK. We are clear that any form of Brexit is bad for our economy, which is why we want a final say for the people on Brexit; and we are the only party that can get into government which is committed to stopping Brexit altogether.”
- Chuka Umunna is the Liberal Democrat Member of Parliament for Streatham and spokesperson for Treasury and business issues.
Office for National Statistics GDP first quarterly estimate, UK: April to June 2019 – https://www.ons.gov.uk/e