UK Exits Recession As GDP Grows Better Than Expected In Q1

The UK economy exited a method recession successful the archetypal 4th with the economical output increasing amended than expected led by a rebound successful the services output and household spending.

Gross home merchandise grew 0.6 percent from the 4th quarter, erstwhile the system shrunk 0.3 percent, preliminary estimates from the Office for National Statistics showed Friday. Output had declined 0.1 percent successful the 3rd 4th past year.

Economists had expected the archetypal 4th maturation to travel successful astatine 0.4 percent.

GDP roseate 0.2 percent year-on-year successful the archetypal quarter, beating expectations for stagnation.

The monthly GDP indicator grew 0.4 percent sequentially successful March aft 0.2 percent summation successful February, which was revised up from 0.1 percent. In January, GDP roseate 0.3 percent.

Economists had forecast a 0.1 percent summation for March.

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