The UK’s gross domestic product expanded by 0.3% in January compared to the previous month, when it fell by half a percentage point, as reported on Friday by the Office for National Statistics (ONS for its acronym in English.).
In this way, the level of activity of the second largest economy in the old continent in January was still 0.2% lower than the level recorded in February 2020, before the impact of the COVID-19 pandemic.
In January, the services sector grew by 0.5%, after a contraction of 0.8% observed in December 2022, while output fell three-tenths, compared to an expansion of 0.3% in the previous month, and the contraction decreased by 1.7%. . , after the slump in December last year.
Compared to January 2022, year-on-year GDP was practically flat. For comparison, GDP declined by 0.1% between December 2021 and December 2022.
More broadly, UK GDP was flat in the three months to January 2023 compared to the three months to October 2022.
Services remained stable between November 2022 and January 2023, while production grew by 0.3% and construction fell by 0.7% in the period.
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