{"id":8234,"date":"2024-04-15T09:00:40","date_gmt":"2024-04-15T06:00:40","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=8234"},"modified":"2024-04-15T09:00:40","modified_gmt":"2024-04-15T06:00:40","slug":"uk-economy-s-growth-points-to-exit-from-recession","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=8234","title":{"rendered":"UK economy, \u2019s growth points to exit from recession"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/uk-economy-s-growth-points-to-exit-from-recession.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><strong>Britain\u2019s tepid economy is on course to exit a shallow recession<\/strong> after output grew for a second month in a row in February, and January\u2019s reading was revised higher, official data showed last week.<\/p>\n<div class=\"cypru-video-ads\" id=\"cypru-799954387\">\n<div id=\"cypru-750358004\" data-cypru-trackid=\"478051\" data-cypru-trackbid=\"1\" class=\"cypru-target\">\n<div id=\"gpt-ad-5914908537636-0\">\n<\/div>\n<\/div>\n<\/div>\n<p>Gross domestic product expanded by 0.1 per cent in monthly terms in February, as expected in a Reuters poll of economists.<br \/>\nJanuary\u2019s reading was revised to show growth of 0.3 per cent, up from 0.2 per cent earlier, the Office for National Statistics (ONS) said.<br \/>\nThe data confirm Britain\u2019s economy started 2024 on a stronger footing, with the three-month average growth rate rising to 0.2 per cent in February from zero in January \u2013 the highest such reading since August.<br \/>\nThe figures are also likely to reinforce the Bank of England\u2019s cautious tone around the prospect for interest rate cuts, with the economy on track to slightly exceed the central bank\u2019s expectation for a 0.1 per cent expansion in the first quarter.<br \/>\nBritain fell into recession in the second half of last year, leaving Prime Minister Rishi Sunak with a challenge to reassure voters that the economy is safe with him before an election expected later this year.<br \/>\n\u201cThese figures are a welcome sign that the economy is turning a corner,\u201d finance minister Jeremy Hunt said in response to Friday\u2019s data.<br \/>\nThe opposition Labour Party, far ahead in opinion polls, said Britain was worse off with low growth after 14 years of Conservative government.<br \/>\nBusiness surveys suggest growth continued in March.<br \/>\nThe ONS said Britain could now escape recession even if GDP contracts sharply in March by around 1 per cent \u2013 assuming there are no revisions to prior months\u2019 data.<br \/>\nDespite the tentative recovery, GDP remains below its level of June 2023, before the latest downturn took place, and has stayed broadly flat since early 2022.<br \/>\n\u201cWhile recession concerns are disappearing into the rear-view mirror, the longer-term outlook is still difficult, with the lagged impact of earlier interest rate hikes and chronic supply side constraints likely to continue limiting the UK\u2019s growth potential,\u201d Suren Thiru, economics director at ICAEW, an accountancy industry body, said.<br \/>\nEconomic output was 0.2 per cent lower than its level in February 2023 \u2013 a little better than the 0.4 per cent gap predicted by economists.<br \/>\nThe services sector which dominates the economy grew by 0.1 per cent in monthly terms in February, as expected. But manufacturing output exceeded forecasts, rising 1.2 per cent on the month. Construction sank 1.9 per cent, the biggest drop in just over a year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fact: Britain&#8217;s economy is on course to exit a shallow recession after output grew for a second month in a row in February, with GDP expanding by 0.1 per cent in monthly terms.<\/p>\n","protected":false},"author":3,"featured_media":8235,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1902,47,195,186,4601,2577,1625,3,2369,4053,26,1600,3251,3210,1312,2515,569,518,696,60,250,3330,415,3767,1991,899,374,1125,839,5865,3331,4593,2836,634,4895,5328,1215,5863,1792,3886,5115,1958,1806,1062,4022,3814,3773,6451,494,3885,1379,444],"class_list":["post-8234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-bank","tag-bank-of-england","tag-britain","tag-business","tag-central-bank","tag-concerns","tag-construction","tag-cyprus","tag-data","tag-downturn","tag-economy","tag-election","tag-england","tag-escape","tag-expansion","tag-february","tag-finance","tag-finance-minister","tag-gdp","tag-gdp-growth","tag-google","tag-google-news","tag-government","tag-growth","tag-industry","tag-interest","tag-interest-rate","tag-interest-rate-cuts","tag-labour","tag-labour-party","tag-news","tag-office","tag-office-for-national-statistics","tag-opinion","tag-output","tag-party","tag-poll","tag-polls","tag-prime-minister","tag-recession","tag-recovery","tag-rishi-sunak","tag-services","tag-services-sector","tag-shallow-recession","tag-statistics","tag-sunak","tag-tepid-economy","tag-uk","tag-uk-economy","tag-voters","tag-zero"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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