UK economy unexpectedly flatlined in January, official figures show
Monthly GDP figure comes as higher energy prices look likely to drive up inflation, dashing hopes of interest rate cut
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The UK economy entered the Middle East crisis after a weak start to the year, according to official figures showing flatlining January output before the US-Israel war on Iran hit global energy prices.
Figures from the Office for National Statistics (ONS) showed 0% growth in gross domestic product (GDP), down from an increase of 0.1% in December, as the economy failed to recover from uncertainty surrounding the chancellor Rachel Reeves’s autumn budget. Continue reading...
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