UK economy contracts unexpectedly in January by 0.1%

Future uncertain as the UK wades through muddy economic waters

The UK economy looks increasingly vulnerable after economic activity fell into negative territory during January

UK economy remains weak as housing and inflation concerns persist

Economic momentum in the UK nearly stalled at the end of 2024, with GDP edging up by just 0.1% in the fourth quarter. The slight rise came primarily from government spending and inventory accumulation rather than private sector investment, highlighting underlying economic weaknesses. According to recent data, consumer spending showed no growth, and business investment declined, signaling tepid private sector demand. Government drives growth as p…

Chancellor ‘Determined to Turn Around’ Economy Amid Surprise Fall in GDP

Chancellor Rachel Reeves has vowed to “turn around the poor performance of more than a decade” after Britain’s economy contracted in the first month of the year. Official figures showed GDP fell by 0.1 percent in January amid a sharp decline in the manufacturing sector, surprising economists who had forecast a slight increase. It follows 0.4 percent growth in GDP in December, the Office for National Statistics (ONS) said, and comes as a blow to …

UK economy unexpectedly shrinks in January, in blow to Treasury chief ahead of key statement

The British economy unexpectedly shrank during January, piling pressure on Treasury chief Rachel Reeves before a key statement about the state of the public finances later this month.

UK economy shrinks in January as output hit by large drop in production

The Office for National Statistics (ONS) confirmed the UK economy contracted by 0.1 per cent in January after a sharp drop in production output as Chancellor Rishi Sunak prepares to raise taxes