UK economy showed no growth in January, according to official data
UK Economic Growth Stalls in January Amid Global Energy Turmoil
In January, the UK economy showed no growth, raising fresh worries about the nation’s economic outlook as global energy prices surged following the US-Israel conflict with Iran. According to data released by the Office for National Statistics (ONS), gross domestic product (GDP) remained unchanged, a slowdown from the modest 0.1% rise recorded in December. This stagnation comes as the country continues to grapple with uncertainty after Chancellor Rachel Reeves’s autumn budget announcement.
The latest figures fell well below analysts’ expectations, who had forecasted a 0.2% increase. The disappointing results arrive at a time when the UK and other nations are bracing for significant economic challenges, as escalating tensions in the Middle East push oil and gas prices higher.
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