United Kingdom: growth restarts in January

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The British economy regained momentum in January with growth of 0.2% month on month, driven by retail trade and construction, generating hopes that it is emerging from recession where it fell in the 2nd semester.

In December, the economy contracted by 0.1%, and over the three months ended in January, the gross domestic product (GDP) still showed a decline of 0.1%, specifies the National Statistics Office ( ONS) in its monthly growth report on Wednesday.

“The economy picked up again in January with strong growth in wholesale and retail trade” and “real estate developers also had a good month,”

“While the last few years have been difficult, today’s figures show that we are making progress in growing the economy,” said Economy and Finance Minister Jeremy Hunt in a press release. .

On Tuesday, the ONS reported that the unemployment rate rose slightly in the UK to 3.9% for the three months to the end of January, compared to 3.8% at the end of December, while wage growth marked a slight increase.

This article is originally published on al24news.com

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