UK Economy Expands in January, Indicating Positive Signals for Recovery
Wednesday, 13 March 2024, 07:28
UK Economy Growth in January
The UK economy recorded a 0.2% increase in January, powered by services and construction sectors. The rebound in construction output by 1.1% following a sluggish December contributed to the overall growth.
Ruth Gregory, deputy chief UK economist at Capital Economics, stated that the expansion signifies a possible recovery from recession, exceeding the predicted 2024 GDP growth of 0.0%. The robust performance in retail and construction sectors fueled the economic upturn.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.