Ekonomi Inggris Terpukul Tarif AS, Kontraksi Terdalam Sejak 2023

Summary

The UK economy shrank by 0.3% in April 2025, a larger decline than expected and the steepest since 2023. This contraction was driven by the end of domestic property tax incentives and the U.S. imposing high tariffs on UK imports, leading to a £2 billion drop in British exports to the U.S., the largest since 1997. The services and manufacturing sectors suffered, though construction showed slight growth. Finance Minister Rachel Rifs acknowledged the disappointing data but remained hopeful that government investments in transportation and energy would spur recovery. Market expectations now point to a potential interest rate cut by the Bank of England in August.

Takeaways

• 📉 The UK economy contracted by 0.3% in April 2025, marking the deepest monthly decline since 2023.
• 💥 The economic contraction was worse than market expectations.
• 🏠 The end of domestic property tax incentives contributed to the economic downturn.
• 🇺🇸 High tariffs imposed by the United States on UK imports worsened the situation.
• 💸 British exports to the United States dropped by £2 billion in one month, the biggest decrease since the 1997 financial crisis.
• 🏭 Both the services and manufacturing sectors were significantly affected by the economic slowdown.
• 🏗️ The construction sector saw slight growth, largely due to favorable weather conditions.
• 💼 Finance Minister Rachel Rifs called the data disappointing but expressed confidence in a recovery supported by government spending.
• 🚗 Government investments in the transportation and energy sectors are expected to support economic recovery.
• 🏦 Market players are now expecting the Bank of England to cut interest rates in August to address the economic challenges.

Q & A

What was the UK economy's growth rate in April 2025?

The UK economy contracted by 0.3% in April 2025.

How does this contraction compare to market expectations?

The contraction was deeper than market expectations.

When was the last time the UK economy saw a similar contraction?

This was the deepest monthly contraction since 2023.

What were the main factors that contributed to the UK's economic decline?

The decline was triggered by the end of domestic property tax incentives and the imposition of high tariffs by the United States on UK imports.

How did the UK's exports to the United States change?

British exports to the United States plunged by 2 billion pounds in one month, marking the biggest drop since the 1997 financial crisis.

Which sectors of the UK economy were most affected by the contraction?

The services and manufacturing sectors were hit the hardest.

Was any sector of the economy able to continue growth despite the downturn?

Yes, the construction sector continued to grow slightly, thanks to favorable weather.

What was Finance Minister Rachel Rifs' response to the economic data?

Finance Minister Rachel Rifs called the data disappointing but expressed confidence that government spending in the transportation and energy sectors would support the recovery.

What are market players expecting from the Bank of England in August 2025?

Market players are anticipating that the Bank of England will cut interest rates in August 2025.

What is the broader context of the economic decline in the UK in April 2025?

The UK economy faced challenges due to the end of key domestic property tax incentives and new tariffs imposed by the United States, leading to significant export losses and sectoral downturns.