UK economy expected to have dipped in July despite World Cup boost

Britain’s unemployment rate has hit a near four-year high (Alamy/PA) -

The UK economy is likely to have shrunk slightly in July due to pressure from weak retail sales and increased energy costs for households, economists have warned.

Experts at Investec and Pantheon Macroeconomics have predicted that the Office for National Statistics will reveal UK GDP fell by 0.1% for the month when it releases the latest growth data on September 11.