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Reading: The UK’s recession ended at the beginning of the year.
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Baner Club > Blog > Ecnomics > The UK’s recession ended at the beginning of the year.
Ecnomics

The UK’s recession ended at the beginning of the year.

According to official statistics, the UK economy came out of recession at the beginning of the year.

Last updated: 2024/05/10 at 7:41 AM
Published May 10, 2024
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According to the Office for National Statistics (ONS), the economy expanded by 0.6% between January and March, which was faster than anticipated.

Following two consecutive three-month spells of economic contraction, the UK entered a recession last year.

Labour has referred to the chancellor’s assertion that the economy is “returning to full health” as “delusional”.

The Bank of England governor, Andrew Bailey, told the news on Thursday that although the economy had turned the corner, a robust recovery was still a ways off.

The economy has shown “broad-based strength across the service industries with retail, public transport and haulage, “said Liz McKeown, director of economic statistics at the ONS.

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admin May 10, 2024 May 10, 2024
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