Report: UK GDP data shows growth losing momentum.

In a report, Samuel Edwards of Ebury stated that the latest UK GDP data shows a slowdown in economic activity due to global and domestic pressures. The month-on-month GDP shrank by 0.1% in April, down from the 0.3% growth in March. He said, "Businesses are facing a difficult combination of rising employment costs, increased taxes, and ongoing global trade uncertainties." Edwards also mentioned that the political tensions in the UK have added another layer of uncertainty, causing damage to businesses.