Financial system finds reverse gear in January with shock contraction

The UK economic system shrank at the beginning of 2025, in keeping with official figures which had been anticipated to point out additional meagre progress.

The Workplace for Nationwide Statistics (ONS) mentioned that output declined by 0.1% throughout the month following the 0.4% progress seen in December.

A progress determine of 0.1% had been tipped by a majority of economists.

The ONS mentioned a hunch in manufacturing output was in charge.

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