UK out of Recession With Fastest Growth in 2 Years

Published on May 10, 2024

The UK’s economy has emerged from a shallow recession in the first quarter, with the fastest growth in around two years, delivering a pre-election boost for Prime Minister Rishi Sunak. GDP increased by 0.6 percent between January and March, according to estimates by the Office for National Statistics (ONS) published on Friday. The growth followed two consecutive quarters of decline, which is the definition of a technical recession. It’s the fastest growth since the fourth quarter of 2021, when GDP rose by 1.5 percent. Mr. Sunak and Chancellor Jeremy Hunt have hailed the positive turn, but Labour said it’s “no time for Conservative ministers to be doing a victory lap.”...

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