Britain's economy exits recession ahead of elections
The UK’s economy grew stronger than expected at 0.6% in the first quarter of this year. However, the country’s economic growth after the COVID-19 pandemic has been slow.
Britain saw stronger than expected growth in first quarter, as it exited recession in the first quarter of 2024. This comes as the country heads to elections this year.
The gross domestic product (GDP) expanded by 0.6%, more than the 0.4% market projection in the first three months of this year, said the Office for National Statistics (ONS).
During the last two quarters of 2023, the UK economy had seen stubborn inflation and a rise in the cost of living.
GDP had shrunk by 0.3% in the fourth quarter of 2023. It had contracted by 0.1% in the third quarter of the same year.
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