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An end to Covid health programmes was also behind the 0.1 per cent contraction in the second quarter, experts said.
The extra Queen’s Platinum Jubilee bank holiday contributed a 0.6 per cent drop in Gross Domestic Product in June.
The Office for National Statistics said that while the celebrations impacted on monthly GDP, they had “little impact” on the quarterly figure.
Tory leadership rivals both claimed the GDP figures showed why their economic plan for the country was the best option.
A spokesman for Liz Truss said: “The latest figures that show the shrinking of the UK economy demonstrate the need for Liz’s bold economic plan.”
Rishi Sunak said: “It is absolutely vital that inflation is gripped and I have a plan to do so.”
The Bank of England says the UK will fall into recession towards the end of this year and the downturn will last all next year.
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