KONTAN.CO.ID - LONDON. Britain's economy returned to growth at the start of 2024, offering some relief to Prime Minister Rishi Sunak ahead of an election expected this year, after it entered a shallow recession in the second half of 2023, official data showed. British gross domestic product grew by 0.2% month-on-month in January - boosted by a rebound in retailing and house-building - after a fall of 0.1% in December, in line with economists' expectations in a Reuters poll. "The economy picked up in January with strong growth in retail and wholesaling. Construction also performed well with housebuilders having a good month, having been subdued for much of the last year," Liz McKeown, statistician at the Office for National Statistics, said.
UK Economy Returns to Growth at Start of 2024
KONTAN.CO.ID - LONDON. Britain's economy returned to growth at the start of 2024, offering some relief to Prime Minister Rishi Sunak ahead of an election expected this year, after it entered a shallow recession in the second half of 2023, official data showed. British gross domestic product grew by 0.2% month-on-month in January - boosted by a rebound in retailing and house-building - after a fall of 0.1% in December, in line with economists' expectations in a Reuters poll. "The economy picked up in January with strong growth in retail and wholesaling. Construction also performed well with housebuilders having a good month, having been subdued for much of the last year," Liz McKeown, statistician at the Office for National Statistics, said.