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U.K. economy decrease 0.1 percent in January
(MENAFN) The UK’s gross domestic product (GDP) shrunk by 0.1 percent in January, scoring a slowdown after a 0.4 percent increase in December, as reported by the Office for National Statistics (ONS) on Friday.
The decrease was mainly led by a decrease in the production field, following an increase of 0.4 percent in December 2024, the office said.
It additionally stated that the GDP is forecasted to have been increased by 0.2 percent during the three months to January 2025, in comparison with the three months to October 2024, mostly backed by increase in services.
Monthly services products increased by 0.1 percent in January 2025, after an increase of 0.4 percent in December 2024, with increasing by 0.4 percent in the three months to January 2025.
Manufacturing output dropped by 0.9 percent in January 2025, after an increase of 0.5 percent in December 2024, then decreased by 0.9 percent in the three months to January 2025, and production output leading both the monthly as well as three-month decreases.
The decrease was mainly led by a decrease in the production field, following an increase of 0.4 percent in December 2024, the office said.
It additionally stated that the GDP is forecasted to have been increased by 0.2 percent during the three months to January 2025, in comparison with the three months to October 2024, mostly backed by increase in services.
Monthly services products increased by 0.1 percent in January 2025, after an increase of 0.4 percent in December 2024, with increasing by 0.4 percent in the three months to January 2025.
Manufacturing output dropped by 0.9 percent in January 2025, after an increase of 0.5 percent in December 2024, then decreased by 0.9 percent in the three months to January 2025, and production output leading both the monthly as well as three-month decreases.
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