The
UK
economy
grew
at
a
slightly
sharper
pace
than
expected
at
the
start
of
the
year,
according
to
a
revision
from
the
Office
for
National
Statistics
(ONS).
UK
gross
domestic
product
(GDP)
grew
by
0.7%
quarter-on-quarter
in
the
three
months
to
March,
recovering
after
falls
of
0.3%
and
0.1%
in
the
previous
two
quarters,
and
topping
the
prior
estimate
of
a
0.6%
increase.
Year-on-year,
growth
was
upwardly
revised
to
0.3%
from
0.2%.
The
UK
economy
had
declined
0.2%
on-year
in
the
final
quarter
of
2023.
“In
output
terms,
services
grew
by
0.8%
on
the
quarter
with
widespread
growth
across
the
sector;
elsewhere
the
production
sector
grew
by
0.6%
while
the
construction
sector
fell
by
0.6%,”
the
ONS
said.
An
estimate
earlier
this
month
showed
the
UK
economy
registered
no
growth
at
the
start
of
the
second-quarter.
GDP
was
unchanged
on-month
in
April,
following
a
rise
of
0.4%
in
March,
the
ONS
said
earlier
this
month.
The
news
means
the
UK
exited
what
is
known
as
a
technical
recession –
defined
as
two
successive
quarters
of
negative
GDP
growth –
in
a
slightly
stronger
fashion
than
originally
thought.
By
Eric
Cunha,
Alliance
News
news
editor
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