Britain's economy grew by a stronger-than-expected 0.6% in the first three months of 2024, ending the shallow recession it entered in the second half of last year, official figures showed on Friday. A Reuters poll of economists had pointed to a 0.
The economy grew by 0.6% between January and March, the fastest rate for two years, official figures showed. The UK fell into recession at the end of last year after shrinking for two three-month periods in a row.
Chancellor of the Exchequer Jeremy Hunt said the UK gross domestic product figures released on Friday were "encouraging." GDP jumped 0.6% in the first quarter compared to the previous three months, according to the Office for National Statistics.
The United Kingdom has come out of a short and shallow recession, official figures showed Friday, giving Prime Minister Rishi Sunak a sorely needed boost ahead of an election expected later this year.
The British economy emerged from a recession at the start of this year, growing faster than economists expected, data published on Friday showed. Gross domestic product increased 0.6 percent in the first quarter,
Friday’s Office for National Statistics figure for quarter-on-quarter growth compared with the 0.4 per cent forecast by both the Bank of England and economists polled by Reuters. It also marked a recovery from the technical recession of the second half of 2023,
The UK's economy emerged from recession at the start of the year, official figures show. The economy grew by a stronger-than-expected 0.6% between January and March, the Office for National Statistics (ONS) said.
Britain exited a shallow recession with better-than-expected growth in the first quarter, official data showed Friday, in a boost to embattled Prime Minister Rishi Sunak ahead of this year's election.
The UK economy returned to growth after a short-lived recession, with gross domestic product expanding at the fastest pace in two years at the start of 2024. Official data showed that the economy grew by 0.
Britain has emerged from a short-lived recession with better-than-expected growth in the first quarter, official data showed Friday, boosting embattled Prime Minister Rishi Sunak before this year's general election.