Summary
In January, the UK economy did not grow, according to official figures. The Office for National Statistics reported zero growth, which was lower than expected, compared to a 0.1% growth in December.
Key Facts
- The UK economy showed zero growth in January.
- This followed a growth of 0.1% in December.
- The Office for National Statistics provided these GDP figures.
- GDP is a measure of all the economic activity in a country.
- The UK services sector remained unchanged in growth during January.
- The production sector in the UK decreased by 0.1%.
- The construction sector saw a growth of 0.2% in January.
- Ongoing global events, like the US-Israeli war with Iran, could impact the UK's economy due to changes in energy supplies.
