The UK economy rebounded at a faster-than-expected pace at the start of the year after the impact of the Omicron variant eased, data released by the Office for National Statistics revealed Friday.
Gross domestic product grew 0.8 percent in January, in contrast to the 0.2 percent fall in December. Economists had forecast a marginal growth of 0.2 percent for January.
GDP was 0.8 percent above its pre-coronavirus level. In three months to January, GDP advanced 1.1 percent from the previous three months.
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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.