The UK is no longer in a technical recession

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Growth of a rate of 0.6% in the first quarter, pulls the economy out of the shallowest of recessions at the end of 2023. This is the preliminary reading with a stronger than forecast rise of 0.6%, compared to forecasts of a 0.4% move up. As IGTV’s Jeremy Naylor explains, this will be welcome news for a Prime Minister who's made economic growth a central pillar of the government’s efforts. In comparison the eurozone published 0.3% for Q1. The UK number was driven by 0.7% rise in service output while manufacturing grew by a far stronger than expected 1.4% with car production particularly strong in the quarter.
#recession #UK #interestrates
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