UK GDP: economy returned to growth by expanding 0.3% in January – business live

Newsflash: The UK economy has returned to growth.

The Office for National Statistics reports that GDP grew by 0.3% during January, after shrinking by 0.5% in December.

That’s a faster recovery than expected after the economy stalled in the final quarter of 2022.

Analysts had expected modest growth of just 0.1% (see opening post), as strike action and the cost of living crisis prevented a recovery in…