- 0.6 per cent growth in the first quarter brings the UK recession to an end
- Will this mean a brighter outlook for UK investors?
The UK economy is officially out of recession. Data released by the Office for National Statistics (ONS) showed that GDP increased by 0.6 per cent in the first quarter of the year, bringing an end to one of the shortest and shallowest contractions on record, as the chart shows.
Services grew by 0.7 per cent on the quarter, and the production sector by 0.8 per cent. The construction sector fell by 0.9 per cent, likely a result of extremely wet weather earlier in the year.