Hopes of UK exit from recession boosted as GDP rises in January
by Larry Elliott Economics editor from on (#6KA5X)
Monthly increase of 0.2% after surge in high street and online spending offers relief for government
- Analysis: UK plc is climbing again - but the road ahead looks rocky
- UK's weak economy is taking a toll on its labour market
A surge in high street and online spending helped Britain's economy return to growth in January, boosting hopes that the recession of late 2023 will be short-lived.
The Office for National Statistics (ONS) said national output - as measured by gross domestic product (GDP) - rose by 0.2% in the first month of 2024, largely as a result of a sharp recovery in retail sales after December's hefty drop.
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