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flag UK economy shrinks by 0.1% in January, defying growth forecasts and weakening the Pound.

flag The UK economy unexpectedly shrank by 0.1% in January, according to the Office for National Statistics. flag This decline, contrary to expected growth of 0.1%, was largely due to a drop in manufacturing and industrial production. flag The Bank of England has already cut interest rates and may do so again to boost growth while managing inflation risks.

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