2023-03-10 02:16:14 ET
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The British economy expanded 0.3% in January of 2023, rebounding from a 0.5% contraction in December. Beats market forecasts of a 0.1% rise.
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The services sector grew by 0.5%, after falling by 0.8% in December 2022, with the largest contributions coming from education, transport and storage, human health activities, and arts, entertainment and recreation activities, all of which have rebounded after falls in December 2022.
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Output in consumer-facing services grew by 0.3% after a fall of 1.2%.
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On the other hand, production output fell by 0.3%, following growth of 0.3% in December and the construction sector fell by 1.7% after being flat.
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Considering the three months to January, the GDP was flat.
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UK GDP expands 0.3% in February, more than expected