Uk Economy Shrinks 2025

Uk Economy Shrinks 2025. UK economy shrinks in first month of 2025 in setback… Chancellor of the Exchequer Rachel Reeves blamed the turbulence of global politics for a surprise contraction in the UK economy, as she prepares to reveal a belt-tightening fiscal update later. The UK economy shrank unexpectedly in January, in a blow to the government ahead of its Spring Statement later this month

Last October, the government's forecaster, the Office for Budget Responsibility predicted the UK economy would expand by 2% in 2025. Heightened global risks including over US tariffs and the war in Ukraine have added to the UK's economic woes, chipping away at the Labour government's £9.9 billion ($12.8 billion) fiscal cushion.

Five charts showing the long road to recovery for the UK economy

Last October, the government's forecaster, the Office for Budget Responsibility predicted the UK economy would expand by 2% in 2025. "Monthly services output grew by 0.1% in January 2025, following growth of 0.4% in December 2024, and grew by. Monthly real gross domestic product (GDP) is estimated to have fallen by 0.1% in January 2025, according to the Office for National Statistics (ONS)

UK economy shrinks slightly Mortgage Introducer. Last October, the government's forecaster, the Office for Budget Responsibility predicted the UK economy would expand by 2% in 2025. The UK economy contracted by 0.1 per cent for January 2025 a blow to Chancellor Rachel Reeves, according to the latest figures from the Office for National Statistics (ONS)

UK economy shrinks as economists warn of more pain to come Economy News The Financial Express. The UK economy shrank unexpectedly in January, in a blow to the government ahead of its Spring Statement later this month LONDON (AP) — The British economy unexpectedly shrank during January, piling pressure on Treasury chief Rachel Reeves before a key statement about the state of the public finances later this month