UK economy 'rebounds' out of recession after 0.6% growth in latest quarter

Henry Saker-Clark

17 November 2024 at 3:16 pm·1-min read

The economy saw faster-than-expected growth in the last quarter — -Credit: (Image: Getty Images/Collection Mix: Subjects RF)

The UK economy has rebounded out of recession with faster-than-expected growth over the first quarter of 2024

The Office for National Statistics said gross domestic product (GDP) is estimated to have risen by 0.6% between January and March. It comes after two quarters of decline – which represents a technical recession – in the back half of 2023.

A consensus of economists had predicted a 0.4% improvement for the latest quarter.

After the UK economy returned to positive growth, ONS director of economic statistics Liz McKeown said: “After two quarters of contraction, the UK economy returned to positive growth in the first three months of this year.

“There was broad-based strength across the service industries with retail, public transport and haulage, and health all performing well.

“Car manufacturers also had a good quarter. These were only a little offset by another weak quarter for construction.”

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