The country’s economy grew by 0.7% in the first quarter of 2024 compared to the previous quarter and 0.3% on an annual basis; expectations were for an increase of 0.6% and 0.2% in the two readings, respectively.
The UK’s Office for National Statistics (ONS) reported that the UK’s gross domestic product (GDP) grew by 0.7% in the first quarter of 2024 compared to the previous quarter and by 0.3% on an annual basis.
The final data came in slightly above analysts’ expectations: the LSEG consensus estimated that the UK economy grew by 0.6% in the quarter and 0.2% in the year.
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The Office for National Statistics’ final reading confirms that the UK has emerged from recession, after GDP contracted in the third and fourth quarters of 2023.
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(Dow Jones Newswire)
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