• Friday, August 19, 2022

Business

UK economy grinds to halt in August

Britain’s economy ground to a shuddering halt in August, hit by weaker hotel and restaurant activity. . (Photo by Matt Cardy/Getty Images)

By: Keerthi Mohan

Britain’s Brexit-facing economy ground to a shuddering halt in August, hit by weaker hotel and restaurant activity, official data showed Wednesday (10). Six months before Britain is due to leave the European Union, gross domestic product (GDP) registered zero growth, the Office for National Statistics said in a statement. That followed an upwardly-revised 0.4-percent expansion in July, which was boosted by sunny weather and the World Cup football tournament. The ONS added that the 2018 summer heatwave provided a welcome lift to the economy after it had suffered under unusually cold weather earlier in the year. The August GDP print…

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