US EditionUK economy contracts unexpectedly in January by 0.1%
- The UK economy unexpectedly contracted by 0.1 percent in January, which was a setback for growth plans, as reported by the Office for National Statistics .
- In January, manufacturing output fell by 1.1 percent while overall services increased only by 0.1 percent, indicating weak growth, according to ONS director of economic statistics Liz McKeown.
- Rachel Reeves stated, 'The fall in January was driven by a notable slowdown in manufacturing,' contributing to weak growth in the economy.
- Liz McKeown of the ONS described the situation as 'weak growth,' highlighting a decline in manufacturing and construction sectors.
111 Articles
111 Articles
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 …
U.K. economy shrinks in January in fresh setback for Starmer
The UK economy unexpectedly shrank at the start of 2025, piling fresh pressure on Prime Minister Keir Starmer’s government over the lack of momentum since Labour returned to power last summer. Gross domestic product fell 0.1% in a storm-hit January, driven by declines in manufacturing and construction, the Office for National Statistics said Friday. Economists had expected a 0.1% increase. It means output is still barely larger than when Labour …
Evening Standard
UK economy contracts in January amid faltering production sector
The latest economic figures for January came after a surprise leap in growth before Christmas.
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