UK economic system unexpectedly shrank by 0.1% in January in blow to Rachel Reeves | EUROtoday

The UK economic system contracted by 0.1 per cent in January in a blow to Rachel Reeves and Sir Keir Starmer’s progress mission, in line with the Office for National Statistics (ONS).

Liz McKeown, the ONS director of financial statistics, mentioned the figures continued to indicate “weak growth”.

She mentioned: “The fall in January was driven by a notable slowdown in manufacturing, with oil and gas extraction and construction also having weak months.

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“However, providers continued to develop in January led by a powerful month for retail, particularly meals shops, as individuals ate and drank at residence extra.”

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