Commuters in London.
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The British economy has emerged from recession. Gross domestic product rose 0.6% in the first quarter, official figures showed on Friday, exceeding expectations.
Economists polled by Reuters had forecast growth of 0.4% from the previous three months of the year.
Britain entered a shallow recession in the second half of 2023 as persistent inflation continued to damage the economy.
Although there is no official definition of a recession, two consecutive quarters of negative growth are generally considered a technical recession.
The UK manufacturing sector grew by 0.8% in the January to March period, while the construction sector fell by 0.9%. On a monthly basis, the economy grew by 0.4% in March, after growth of 0.2% in February.
The Bank of England's Monetary Policy Committee warned on Thursday that indicators of persistent inflation “remain high” and voted to keep its key interest rate at 5.25%.
The central bank forecast headline inflation of almost 2% in the near term, but expects a slight increase later this year as the effects of a sharp drop in energy prices fade.
This is a current news item and will be updated soon.