Progress returned within the UK economic system in January, based on official figures.
The measure of every thing produced within the UK – a metric known as gross home product (GDP) – rose 0.2%, the Workplace for Nationwide Statistics (ONS) stated.
It is the primary official financial development announcement since a recession was declared final month.
The info, nevertheless, is simply an estimate and is topic to revision.
Figures are routinely revised as extra info turns into out there.
When adjusted to think about inflation, GDP rose 0.1% within the month.
Responding to the information, Chancellor Jeremy Hunt stated:
“Whereas the previous few years have been powerful, as we speak’s numbers present we’re making progress in rising the economic system – a part of which makes it attainable to deliver down nationwide insurance coverage contributions by £900 this coming 12 months.
“But when we would like the speed of development to select up extra we have to make work pay which implies ending the unfairness of taxing work twice.”
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