Office for National Statistics

Britain's economy rebounded slightly in January, data showed Wednesday, sparking hope of an end to recession in a boost to embattled Prime Minister Rishi Sunak ahead of elections.

Gross domestic product grew 0.2 percent following a slight 0.1-percent decline in December according to a statement from the Office for National Statistics (ONS).

Preliminary figures released by the Office for National Statistics (ONS) have revealed that the British economy has officially entered a recession in the latter half of 2023. The grim data indicates a contraction in GDP for two consecutive quarters, marking what economists term as a "technical recession."

The rate of inflation in the U.K. fell sharply in July to a 17-month low largely on the back of lower energy prices, official figures showed yesterday, a welcome development for hard-pressed households struggling during the cost of living crisis.

Britain's economy expanded slightly over the second quarter thanks to strong output in June and despite inflation remaining high, official data showed on Aug. 11.

Gross domestic product grew 0.2 percent in the April-June period after output expanded 0.1 percent in the first quarter, the Office for National Statistics said in a statement.

Britain's economy grew 0.1 percent over the first quarter despite weakening in March, official data revealed Friday, as output continues to be hit by high inflation and strikes.

After narrowly avoiding recession last year, the economy advanced 0.5 percent in January before flattening in February and sliding 0.3 percent in March, the Office for National Statistics said in a statement.

The price of food in the U.K. rose at the fastest pace in 45 years last month in, keeping inflation above 10 percent for a seventh straight month amid a cost-of-living crisis that has fueled a wave of strikes by government workers.

British annual inflation unexpectedly accelerated in February despite central bank efforts to tame a growing cost-of-living crisis, official data showed yesterday.

The Consumer Prices Index (CPI) rose by 10.4 percent in the 12 months to February 2023, up from 10.1 percent in January, the Office for National Statistics said.

Teachers and train drivers dominate a fresh round of UK-wide strikes Wednesday aimed at securing pay rises that would ease a cost-of-living crisis caused by soaring inflation.

Large disruption to education and commuter travel is anticipated in the latest mass stoppages by public and private sector workers as the government and company bosses stand firm over wage demands.

In 2020, as Britain faced the brunt of the COVID-19 pandemic, it saw its biggest fall in output for more than 300 years, and a bigger fall than any other major economy showed updated official figures.

Britain's economy rebounded in May, official data showed yesterday, dampening fears of a slowdown despite surging inflation and rising interest rates.    

Gross domestic product expanded 0.5 percent, the Office for National Statistics said in a statement, beating expectations of zero growth.