{"id":42089,"date":"2024-12-13T14:25:05","date_gmt":"2024-12-13T14:25:05","guid":{"rendered":"https:\/\/uwejournalism.net\/bowernews\/?p=42089"},"modified":"2026-06-15T14:48:34","modified_gmt":"2026-06-15T13:48:34","slug":"economy-shrinks-for-second-month-in-a-row","status":"publish","type":"post","link":"https:\/\/uwejournalism.net\/bowernews\/2024\/12\/13\/economy-shrinks-for-second-month-in-a-row\/","title":{"rendered":"Economy shrinks for second month in a row"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"400\" src=\"https:\/\/uwejournalism.net\/bowernews\/wp-content\/uploads\/2024\/12\/Shops-In-Bristol.jpg\" alt=\"\" class=\"wp-image-42161\" srcset=\"https:\/\/uwejournalism.net\/bowernews\/wp-content\/uploads\/2024\/12\/Shops-In-Bristol.jpg 700w, https:\/\/uwejournalism.net\/bowernews\/wp-content\/uploads\/2024\/12\/Shops-In-Bristol-300x171.jpg 300w, https:\/\/uwejournalism.net\/bowernews\/wp-content\/uploads\/2024\/12\/Shops-In-Bristol-640x366.jpg 640w, https:\/\/uwejournalism.net\/bowernews\/wp-content\/uploads\/2024\/12\/Shops-In-Bristol-681x389.jpg 681w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><figcaption class=\"wp-element-caption\">Shops in Bristol <\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The economy is looking at its second month of decline as the production sector is in decline.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Data from the Office of National Statistics show that the economy shrunk by 0.1% for the second month is a row. Whilst over the last three months the economy has expanded by 0.1% in total.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a statement from Rachel Reeves on X, she described the figures as &#8216;disappointing&#8217;. However she stays positive going on to committed to building more homes among other initiatives. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Today&#39;s GDP figures are disappointing.<br><br>However, I&#39;m determined to turn the economy around so it works for working people once again.<br><br>That&#39;s why we are building 1.5 million homes, creating the National Wealth Fund and reforming our pensions market to make Britain better off.<\/p>&mdash; Rachel Reeves (@RachelReevesMP) <a href=\"https:\/\/twitter.com\/RachelReevesMP\/status\/1867523659524354553?ref_src=twsrc%5Etfw\">December 13, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">This is whilst the ONS reports an 0.4% decrease in construction output last month but an overall growth ofver the last four months. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some of the other sectors that have been hard hit are production, accommodation and food services. The art, entertainment and recreation has fallen by 2.0%. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Shadow Chancellor of the Exjecor accuses Labour of &#8216;talking down the economy&#8217;.  <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Out early urging Chancellor to change course fast after second consecutive month of GDP contraction. Labour\u2019s talking down of the economy, hiking of taxes and loading up on red tape is killing growth. We are all paying the price. <a href=\"https:\/\/t.co\/Jf7IT8XwKl\">pic.twitter.com\/Jf7IT8XwKl<\/a><\/p>&mdash; Mel Stride (@MelJStride) <a href=\"https:\/\/twitter.com\/MelJStride\/status\/1867487136745705653?ref_src=twsrc%5Etfw\">December 13, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Overall this makes it difficult to predict where the economy will go, with the Prime Minister, Sir Kier Starmer pledging to increase real household disposable income per person. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The economy is looking at its second month of decline as the production sector is in decline. Data from the Office of National Statistics show that the economy shrunk by 0.1% for the second month is a row. Whilst over the last three months the economy has expanded by 0.1% in total. In a statement [&hellip;]<\/p>\n","protected":false},"author":319,"featured_media":42161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1766],"tags":[],"class_list":["post-42089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk"],"_links":{"self":[{"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/posts\/42089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/users\/319"}],"replies":[{"embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/comments?post=42089"}],"version-history":[{"count":3,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/posts\/42089\/revisions"}],"predecessor-version":[{"id":42200,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/posts\/42089\/revisions\/42200"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/media\/42161"}],"wp:attachment":[{"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/media?parent=42089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/categories?post=42089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/tags?post=42089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}