THE brakes have been slammed on the economy by shaken shoppers who have stopped spending, central total have revealed.
GDP only increasing by 0.3% in the first 3 months of the year, some-more than half the 0.7% expansion rate in the final entertain of 2016.
It is also the slowest expansion for Britain in a year.
The Office of National Statistics pronounced a poignant dump in sell sales as good as income taken by hotels and restaurants were the biggest reasons for the slack between Jan and March.
The dump in the pound’s value after the EU referendum has sparked cost rises in shops.
But the Chancellor insisted the total highlighted how critical it was not to go into EU exit talks with “a bloc of chaos” in charge.
Insisting the UK’s economy was still resilient, Philip Hammond said: “These negotiations are going to be tough and complex.
“That’s because we need clever and fast care and a transparent charge to get the best probable understanding for Britain.”
Though consumer spending took a hit, the latest ONS total also suggested prolongation and production saw fast expansion in the first quarter.
But the construction zone also slowed, flourishing by 0.2%.
Amid signs of a wider global slack yesterday, France also posted expansion of just 0.3% between Jan and March.
The US’s mercantile expansion also slowed to its lowest rate given 2014, an annualised rate of 0.7%, down from 2.1% in the prior quarter.
Labour’s Shadow Chancellor John McDonnell said: “Today’s GDP total exhibit the hazard to vital standards under the Tories”.