Fears for UK economy after weaker-than-expected growth reports

Drop in manufacturing, construction slowdown and widening of trade deficit knock pound lower against dollar euro

A drop in manufacturing output, a slowdown for the construction industry and a widening in Britain’s trade deficit have doused expectations that the Bank of England will raise interest rates over the coming months.

The pound dropped sharply against the dollar and euro on Friday after the latest signs that the economic resilience seen after last summer’s Brexit vote has waned.

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