The UK economy shrinking for the first time since 2012 “will hardly come as a shock,” Geoffrey Yu, head of UK investment office at UBS Wealth Management, claimed.

Gross domestic product (GDP) fell by 0.2 percent between April and June 2019, according to the Office of National Statistics (ONS).

This is a stark decrease from the 0.5 percent growth seen in Q1 2019 and there’s no denying that these figures “are a cause for concern,” warned Nancy Curtin, chief investment officer of Close Brothers Asset Management.