The Welsh economy has seen the biggest contraction of any nation of the UK, according to new figures from the Office for National Statistics.
In the second quarter (Q2) of 2022 the Welsh economy, based on the key measures of GDP (gross domestic product), shrank by 0.4% on the previous quarter. The only other nation to see a decline was Northern Ireland at 0.3%. For England and Scotland growth was flat at O%.
Breaking down England on a regional basis there were higher contractions than Wales in the north east (1.6%), the south west (1.3%), East Midlands (1.1%), the south-east (0.5%) and the West Midlands (0.3%).
In Wales the industry sector to experience the biggest expansion was administrative and support service sectors up 6%, with the biggest contraction was human health and social work activities, down more than 8%.
Comparing Q2 in 2022 with the same three month April to June period in 2021,the Welsh economy expanded by 1.9% – which although in positive terrain has behind Scotland (5%), England (4%) and Northern Ireland (1.95%). Based on a year-on-year comparison the biggest increase was in London at 9.5%.
GDP is defined as the value of goods and services produced.
