UK economy contracts slightly in March, but growth in first quarter

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The British economy, which like continental Europe is plagued by high inflation, contracted slightly in March. Despite this, growth of 0.8% was recorded for the first three months of the year.

Prospects for the rest of the year are less encouraging. The growth figure for the Dutch economy for the first months of this year will be announced next week.

In the first corona year, the UK economy shrank by 9.3%, before recovering strongly the following year, rising by 7.4%. Overall, the country is in a slightly better economic situation than before the coronavirus crisis.

Due to high inflation and the consequences of the war in Ukraine, a recession is looming.

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