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flag UK economy stagnates in July, with GDP flat due to manufacturing sector contraction.

flag The UK economy showed zero growth in July due to a significant contraction in the manufacturing sector, according to the Office for National Statistics. flag Though the services sector saw a slight 0.1% growth and construction rose by 0.2%, manufacturing declined by 1.4%, the sharpest drop in a year. flag These figures add pressure on the government to boost economic growth, with the upcoming November budget under scrutiny for possible tax hikes. flag The Bank of England will consider these developments in their interest rate decision on September 18.

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