UK economic system did not develop in January in blow for Starmer | EUROtoday

The UK economic system recorded zero development in January in a blow for Sir Keir Starmer’s authorities, new figures present.

Data launched by the Office for National Statistics (ONS) on Friday reveals that Gross Domestic Product (GDP) didn’t rise or fall in January.

Figures launched final month present that the UK economic system grew by simply 0.1 per cent within the closing three months of 2025 as chancellor Rachel Reeves continues to battle to stimulate development, a key manifesto pledge for Labour.

The latest information doesn’t embrace the affect of the US-Israeli warfare on Iran, which has despatched oil costs hovering and created fears of a brand new price of residing disaster within the UK if payments rise.

Earlier this week, the Office for Budget Responsibility (OBR) warned that UK inflation may hit three per cent by the tip of the 12 months if oil and gasoline costs stay at present ranges.

Ms Reeves mentioned: “Our economic plan is the right one, but I know there is more to do.

“In an uncertain world, we are building a stronger and more secure economy by cutting the cost of living, cutting national debt and creating the conditions for growth to make all parts of the country better off.”

The ONS director of financial statistics, Liz McKeown, mentioned of the information: “The overall picture remains subdued, with no growth in the latest month”.

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