The UK's GDP stagnated in July, and concerns about growth were exacerbated by the new round of tax raise budget.

Caijing APP learned that due to the pressure brought by increased taxes and tariffs, the UK economy stagnated in July, with a lackluster start to the third quarter. Data released by the UK National Statistics Office on Friday showed that the UK GDP remained flat in July compared to the previous month, in line with the median forecast of economists, but significantly slower than the 0.4% growth in June. Although the service and construction industries saw slight growth in July, the sharp decline in manufacturing offset these positive effects, ultimately leading to zero overall economic growth.