US EditionUK economy emerges from recession with 0.6% growth in first quarter
- Gross domestic product expanded 0.6 percent in the first three months of this year, driven by service industries and car manufacturing, surpassing market expectations as per the Office for National Statistics .
- This growth was the strongest since the fourth quarter of 2021, resulting in London's stock market reaching a new record peak.
- The economy had faced two quarters of slight contraction in the previous year, leading to a technical recession due to high inflation and a cost-of-living crisis.
83 Articles
83 Articles
UK out of Recession With Fastest Growth in 2 Years
The UK’s economy has emerged from a shallow recession in the first quarter, with the fastest growth in around two years, delivering a pre-election boost for Prime Minister Rishi Sunak. GDP increased by 0.6 percent between January and March, according to estimates by the Office for National Statistics (ONS) published on Friday. The growth followed two consecutive quarters of decline, which is the definition of a technical recession. It’s the fast…
Die britische Wirtschaft ist zu Jahresbeginn deutlich gewachsen. Nach zwei schwachen Vorquartalen tritt Großbritannien damit aus der Rezession aus. Der wirtschaftliche Optimismus kehrt langsam zurück.
The UK economy recorded above-expectation growth in the first quarter of 2024, ending the recession it entered in the second half of last year, according to data published on Friday by the National Statistics Office (ONS), cited by DPA and Reuters, quoted by Agerpres.
“The economy is now recovering for the first time since the pandemic,” said British Chancellor of the Exchequer Jeremy Hunt.
UK economy exits recession ahead of election
LONDON, United Kingdom — Britain exited recession with stronger-than-expected growth in the first quarter of 2024, official data showed Friday, in a boost to embattled Prime Minister Rishi Sunak ahead of this year’s election. Gross domestic product expanded by 0.6 percent in the first three months of this year, the Office for National Statistics (ONS)
British economy emerges from recession to post 0.6% growth in first quarter
A surging services sector saw Britain's economy rebound strongly in the first quarter growing at its fastest pace in more than two years, following a technical recession in the second half of 2023, official figures relea
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