Recession-hit Britain swings to economic growth in January, helped by construction bounce

In Europe

[ad_1]

People walk along Waterloo Bridge past the City of London skyline, the capital’s financial district, on a sunny and mild day.

Sopa Images | Lightrocket | Getty Images

LONDON — U.K. gross domestic product grew 0.2% in January, the Office for National Statistics said Wednesday, as construction output jumped unexpectedly.

The headline figure was in line with the forecast from economists polled by Reuters.

It follows a 0.1% contraction in December, while the U.K. economy entered a shallow recession in the second half of last year.

Construction output was 1.1% higher in January, the ONS said, but fell 0.9% over a three-month period. Services recorded 0.2% growth in January, providing the biggest contribution to growth, as production output fell 0.2%.

UK budget announcement is 'careful and thoughtful,' ex-finance minister says

Jack Meaning, chief U.K. economist at Barclays, described the figures as “not a hugely positive picture, but it’s ahead of where we were at the end of last year.”

“Industrial and manufacturing have been weak for the last few prints, you’d expect some bounce-back from that in the end,” Meaning told CNBC’s “Squawk Box Europe” Wednesday.

“This is good to see, but we’ll have to see it on a more prolonged basis to know that it is something sustained.”

The British pound remained flat against the U.S. dollar and the euro following the release.

[ad_2]

Read More: Recession-hit Britain swings to economic growth in January, helped by construction bounce

You may also read!

‘Wow … LOL’: Text messages from ex-MEMA head point to lack of urgency during Lahaina

HONOLULU (HawaiiNewsNow) - The state Attorney General’s Office just released part one of its sprawling investigation into the

Read More...

Dozens of pro-Palestinian protesters arrested as Columbia clears encampment

More than 100 pro-Palestinian protesters have been arrested on the campus of New York’s Columbia University as police

Read More...

Leave a reply:

Your email address will not be published.

slot depo 10k

slot qris

slot dana

wild bandito

slot thailand

wild bandito

bonus new member

slot777

scatter hitam

mahjong ways

deluna188
situs judi bola
slot777
https://ele.maswaingapu.sch.id/
cukongbet
slot online