The UK economy contracted unexpectedly in March, as both businesses and households felt the pinch amid rising prices, the latest statistics show.
In an update released on May 12, the Office for National Statistics (ONS) said gross domestic product fell by 0.1 percent month-on-month in March after growth stalled in February.
The data was worse than previously predicted, as experts had expected growth to remain flat in March.
Darren Morgan, ONS director of economic statistics, said there had been drops in both services and production.
The ONS said the economy grew at its slowest pace for a year in the first quarter overall, with growth of 0.8 percent, down from 1.3 percent in the previous three months.
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