UK GDP

Economy in recovery from mild technical recession last year

ONS GDP growth data revised from initial estimate of 0.6%

Growth follows two quarterly declines in second half of 2023

Three-month figure remains negative at 0.1%

UK economy shrank for two consecutive quarters following 0.1% contraction in Q3

Economy weaker than forecast due to a decline in services

UK GDP reported no estimated growth in Q3 2023

Raises hopes that a recession could be avoided this year

Up from 0.3% drop in March

Growth was better than expected but economy is still below pre-Covid size