Figures expose fundamental weaknesses in economy – John McDonnell

Shadow Chancellor John McDonnell, responding to news of zero growth in three months to January 2020, said:

“On the day of the Budget these figures expose the fundamental weaknesses in the economy after a decade of decline under the Tories.

“News of zero growth and falling production, even before the outbreak of coronavirus, show the Tories do not have a grip on the economy.

“For years the Tories have had no plan for the economy – and unfortunately today’s Budget announcements look likely to spell more of the same, and more disappointment for the country as a whole.”

Ends

Notes to Editors:

• ONS figures out today show GDP was flat in three months to January 2020, and flat in the month of January.
• The service sector was entirely flat in the three months to January and growth in the production sector was -1.0% in the three months to January 2020:https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/january2020.
• Manufacturing output fell by 1.2% in the three months to January 2020, because of what the ONS described as “widespread weakness”:https://www.ons.gov.uk/economy/economicoutputandproductivity/output/bulletins/indexofproduction/january2020.