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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Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
