Rolling coverage of the latest economic and financial news, as UK economy grows faster than forecast in January-March quarter
Newsflash: The UK’s short, shallow, recession is over.
The UK economy grew by 0.6% in the first quarter of this year, the Office for National Statistics has reported.
In output terms, services grew by 0.7% on the quarter with widespread growth across the sector; elsewhere the production sector grew by 0.8% while the construction sector fell by 0.9%.
In expenditure terms, there were increases in the volume of net trade, household spending and government spending, partially offset by falls in gross capital formation.
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