The UK economy contracted by 0.1% in January, dealing a blow to Rachel Reeves before the spring statement later this month.
In a surprise to City economists, who expected 0.1% growth in January, the Office for National Statistics data showed the services sector failed to offset a decline in the industrial sector and maintain growth from the previous month.
Manufacturing output fell by 1.1% in January 2025, reversing a spurt of 0.7% in December last year. Construction was another drag on the economy after poor winter weather held back housebuilders.
The ONS said GDP was estimated to have grown by 0.2% in the three months to January 2025, compared with the three months to October 2024, as a result of the growth in the services sector.
“The economy didn’t grow? Ok, let’s give some more money to the military industrial complex, that’ll fix it”
Actually yep.
Its no fun but there is a reason war is seen as profitable. It create jobs and spreads money.
Of course it dose nothing to change the % of that money distributed to the lower classs. But lets be honest that has little effext on how we measure the economy atm.