Chancellor SajidJavid has told Sky News he believes the 'fundamentals' of the UK economy remain 'strong', despite a fall in GDP. It's the first time the country's GDP has shrunk since 2012. Read the full story here:
Among the main points:The important services sector grew, but at the weakest rate since early 2016;
Conway said:"Overall global growth is stuttering...we may see contraction in other major economies in Europe as well. "There was a lot of stockpiling in the first quarter and a lot of factory shut downs in the second quarter and that might be what has helped contribute to that number."If the economy shrinks further in the third quarter, then the resulting recession would be the first since the financial crisis and recession of 2008-09.
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