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UK economy contracts unexpectedly in January by 0.1%

  • The UK economy unexpectedly contracted by 0.1% in January 2025, according to figures from the Office for National Statistics .
  • Chancellor Rachel Reeves faces backlash from the business community over tax changes amid a surprise contraction.
  • The figures indicate a decline in manufacturing and construction, contributing to concerns of recession, as reported by the ONS.
  • Business leaders warn that impending tax hikes may lead to price increases and job cuts, reflecting rising concerns about the economy's stability.
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UK economy contracts in January amid faltering production sector

The latest economic figures for January came after a surprise leap in growth before Christmas.

·London, United Kingdom
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Financial Times broke the news in London, United Kingdom on Friday, March 14, 2025.
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