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Friday 12 May 2023 7:08 am  |  Updated:  Friday 12 May 2023 7:17 am

Morning in the City: Live news and updates as GDP up 0.1 per cent after rate rise

By: Jack Mendel

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The Easter bank holiday weekend was not enough to help significantly drive footfall in March, as wet British weather put another dampener on high street recovery.
The Easter bank holiday weekend was not enough to help significantly drive footfall in March, as wet British weather put another dampener on high street recovery.

Good morning and welcome to Morning Wire’s live blog on Friday 12 May.

We lead today with GDP figures from the Office for National Statistics, a day after the 12th straight rate rise.

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UK economy’s rebound fails to stem two years of mass job losses 

LONDON, UNITED KINGDOM - JANUARY 31: The Shard is seen on the horizon as commuters cross London Bridge during the morning rush hour on January 31, 2023 in London, United Kingdom. The IMF reports that the UK economy will contract by 0.6% in 2023, as opposed to the previous prediction it might grow, and will perform worse than many other advanced economies, including Russia.The cost of living continues to hit households with grocery inflation for the first four weeks of 2023 rising to 16.7% which would add a further £788 per year to family food bills. (Photo by Leon Neal/Getty Images)

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