The UK economy has grown 0.1 % in the fourth quarter

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The UK economy has grown 0.1 percent in the fourth quarter, in a modest batch of work as it seeks to fulfill its pledges to revitalize the economy.

the gross domestic product During the last three months of the year of the National Statistics Office, the form represented an increase in the zero growth in the quarter that ended in September, but it is still consistent with the economy that is struggling to gain momentum.

Economists expected 0.1 per cent in the fourth quarter, according to Reuters poll. The pound was strengthened after the data was issued, an increase of 0.5 percent against the dollar at $ 1.251.

Chancellor Rachel Reeves has pledged to achieve growth on the main government mission, and threw her support behind projects, including a third runway at Heathrow Airport in London and transport links between Oxford and Cambridge.

but economy I have been disappointed since the Labor Party took power, stagnating in the second half of last year. He said that the real GDP of each head decreased by 0.1 percent in the fourth quarter.

Hailey Lu, an economist at the National Institute for Economic and Social Research, said that the latest data was crowned “a disappointing year for growth.”

She added: “The decrease in confidence in business and confidence in the consumer indicates that 2025 begins on a shaky land, with poor investment and cautious consumer spending that hinders the momentum.”

Over the course of 2024, the economy expanded by 0.9 percent, said ONS, a modest improvement in expanding 0.4 percent in the previous year. However, this is less than predictions in October by the Budget Responsibility Office, which is the UK Financial Agency.

The annual growth was also much lower than registered growth in the United States, with GDP expanded by 2.8 percent in 2024.

OBR is expected to reduce its growth expectations in the next spring statement, which reaches tax revenues and adds to the financial pressures facing the advisor.

Last week, the Refuge Supervisory Authority told the head -of -the -head room that had previously been eliminated by the main budget base through factors that include bad economic data.

In response to GDP numbers on Thursday, Reeves said: “For a long time, the politicians have a economy failed. I will not. After 14 years of flat living standards, we go further and faster through our plan to change to put more money in pockets the people. “

ONS figures showed that the economy expanded 0.4 percent in December after an unprecedented growth number of 0.1 percent in the previous month. The improvement was driven by the output in the dominant services sector in the United Kingdom.