0.7% Q1 2024 UK GDP growth exceeds 0.6% estimate, exiting a shallow recession with increased services sector activity.
The UK economy grew faster than expected in Q1 of 2024, with revised figures showing a 0.7% increase in GDP between January and March. This surpassed the initial estimate of 0.6% growth and marks the country's exit from a shallow recession. The services sector, including businesses such as banks and hospitality, saw stronger activity and contributed to the improved growth.
June 28, 2024
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