The British economy grew 0.6 per cent more than expected in the first three months of 2024, Reuters reported.
Economic growth ended the shallow recession the country entered in the second half of last year.
A survey of economists revealed gross domestic product (GDP) rose by 0.4% between January and March following a 0.3% contraction in GDP in the final quarter of 2023.
The Office for National Statistics figures released on Friday would be pleasant news for Prime Minister Rishi Sunak. Meanwhile, the opposition Labour Party, which had a big lead in opinion polls, argued that Sunak and Treasury Secretary Jeremy Hunt were “out of touch to think voters were feeling better off.”
The Bank of England (BoE), which kept interest rates at a 16-year high on Thursday, forecast quarterly growth of 0.4% in the first quarter of this year and smaller growth of 0.2% in the second quarter.
On a month-on-month basis, the UK economy as a whole grew by 0.4% in March, beating economists’ forecast of 0.1%.
