UK GDP grew by 0.1% in the first quarter of 2023

London (AFP) – The National Office for the Economy announced on Friday that the United Kingdom's gross domestic product grew by 0.1% in the first quarter of 2023, in line with economists' expectations, after a similar increase in the last three months of 2022. (ONS).

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On the other hand, the gross domestic product declined by the end of the quarter by 0.3% for the month of March, after it was stagnant in February and recorded an increase of 0.5% in January, according to the same source.

Growth in the first quarter “was driven by the IT and construction sectors,” despite a slowdown in the economy due to strikes “in health, education and public administration,” Twitter statistics director Darren Morgan said.

Until recently, the British economy, sank by inflation remaining at around 10%, seemed doomed to stagnate this year, having only escaped enough at the end of 2022. But the latest forecasts, including one issued by the Bank of England on… Thursday (Bank of England), more optimistic.

The Bank of England expects British GDP to grow by 0.25% in 2023 and 0.75% in 2024.

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