According to the latest figures from the Office for National Statistics, UK GDP grew in the first quarter of the year by 0.6%
London, Thanasis Gavos
The British economy out of recession in which it had fallen after two consecutive quarters with a negative growth rate.
According to the latest data from the Office of National Statistics, the GDP of the United Kingdom increased in the first quarter of the year against 0.6%, against forecasts for a growth rate of 0.4%.
In March the economy ran with a positive growth rate of 0.4%.
The Prime Minister Rishi Sunak commented that the new figures show that “the economy has turned a corner” and that his government’s plan is paying off.
The finance minister Jeremy Hunt he spoke of “encouraging” figures, but Labour’s shadow finance minister Rachel Reeves commented that it was no time for a “triumph lap” as GDP per head was £300 lower since Rishi Sunak took office.
In the last two quarters of 2023 the British economy had a negative growth rate of 0.1% and 0.3% respectively. The technical recession had been attributed to limited consumer power due to high inflation and inflated energy bills.
Source: Skai
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