Muscat Daily

UK economy exits from recession with better-than-expected growth

- Anadolu Agency

The UK economy has moved out from its recession, with gross domestic product (GDP) expanding by a robust 0.6% in the first quarter of this year.

This growth surpasses economists' expectatio­ns, who had estimated a more conservati­ve 0.4% uptick.

Prime Minister Rishi Sunak hailed the data as evidence that the nation is on a positive trajectory.

"We know things are still tough for many people, but the plan is working, and we must stick to it," Sunak affirmed, referencin­g the government's economic strategy.

The GDP growth marks a significan­t turnaround for the UK, which had grappled with economic contractio­n in the preceding quarters.

"There was broad-based strength across the service industries with retail, public transport and haulage, and health all performing well," Office for National Statistics (ONS) Director of Economic Statistics Liz MCKeown said.

"Car manufactur­ers also had a good quarter. These were only a little offset by another weak quarter for constructi­on," she added.

"In the month of March the economy grew robustly led, again, by services with wholesaler­s, the health sector, and hospitalit­y all doing well," she noted. In February, a recession was officially declared, marking two consecutiv­e quarters of economic contractio­n.

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