The UK economy expanded at a faster-than-expected pace in January, supported by growth in all main sectors such as manufacturing, services and constructions, but the pace of growth was lackluster amid the lingering Brexit uncertainty. Gross domestic product grew 0.5 percent month-on-month in January after a 0.40 percent decline in December, preliminary figures from the Office for National Statistics showed on Tuesday. Economists had expected a 0.20 percent increase. In November, GDP grew 0.2 percent monthly.
On a 3-month-on-3-month basis, GDP rose 0.20 percent in January, which was in line with economists' expectations. "Across the latest three months, growth remained weak with falls in manufacture of metal products, cars and construction repair work all dampening economic growth. These were offset by strong performances in wholesale, IT and health services," ONS Head of GDP Rob Kent-Smith said. "This sluggish growth came despite the economy bouncing back from a weak December."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.