The UK economy grew for the first time in a year in the first quarter of this year, emerging from a mild recession in the second half of 2023.
Gross domestic product rose 0.6 percent in the three months to March and 0.2 percent from a year earlier, the Office for National Statistics said in a first estimate for the quarter on Friday. .
This figure is higher than the 0.4% expected by analysts, partly thanks to the better-than-expected performance of the manufacturing sector in March. Manufacturing output rose 0.3 percent, rather than contracting 0.5 percent as expected.
The figures come a day after the Bank of England signaled it was moving closer to cutting interest rates for the first time since the post-pandemic inflation surge.
This is a developing story.
Politico
