UK economy shrank unexpectedly in January

Quick Summary:

A slowdown in manufacturing was one of the main reasons for the dip, the Office for National Statistics says.

The recent cut to UK aid to fund an increase in defence spending "is a preview that some departments will see their spending plans squeezed", she added.

Responding to the latest growth figures, Reeves said: "The world has changed and across the globe we are feeling the consequences.

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Article Details

Category: Business

Markets: United KingdomOman

Topics: Reeves Economy Statement Chancellor Rates Government Month Spending Growth Spring

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-14 @ 10:26:35 (3 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 827 words

Reading Time: 5 minutes read

Sentences: 34 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © BBC Business

News ID: 27067583

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