UK Economy Stagnates for Second Month in July

Chancellor Rachel Reeves faces tough economic challenges as growth stalls and concerns rise over proposed tax hikes.

UK GDP recorded zero growth in July, marking the second consecutive month without expansion.
The services sector showed modest gains, but manufacturing and construction experienced significant declines.
Chancellor Rachel Reeves acknowledged the economic challenges, emphasizing long-term solutions over quick fixes.
Economists express concerns that proposed tax hikes may stifle investment and prolong economic stagnation.
Recent sporting events provided temporary boosts, but broader economic weaknesses persist.