UK Economy Unexpectedly Shrank 0.3% in April

The video discusses economic concerns in April, focusing on stagflation fears and the impact of the energy price cap. It highlights the end of free COVID testing affecting health output and its implications for the Bank of England's policy decisions. The CBI has downgraded growth forecasts and calls for increased business investment to prevent a recession.

What was a significant factor in the economic data for April?

• End of free COVID testing

• Decrease in unemployment rate

• Increase in consumer demand

• Rise in energy price cap

What is the primary concern regarding the economic data discussed?

• Cost of living increase

• Global market trends

• Technical adjustments

• Underlying economic conditions

How might the recent economic data affect the Bank of England's interest rate decision?

• Promote a decrease in rates

• Discourage a 50 basis point hike

• Lead to a decision for no hike

• Encourage a 100 basis point hike

What is the CBI's growth forecast for 2023?

• 1%

• 1.5%

• 2%

• 0.5%

What action is the CBI advocating to prevent a recession?

• Increase in consumer spending

• Increase in government borrowing

• Reduction in taxes

• More business investment