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UK economy shrinks in April
The economic performance in Britain declined in April, with GDP decreasing by 0.1%. This marks the first decline after gains in the previous two months and is attributed to the effects of the war in the Middle East, particularly rising energy prices and borrowing costs. These figures follow strong growth in the first quarter, putting pressure on the Bank of England's policy as it balances the bouts of inflation with weak demand. Meanwhile, Prime Minister Keir Starmer may face new challenges in governance.
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