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UK exits recession as services bounce back

·1 min

UK Emerges from Recession

The United Kingdom’s economy has rebounded from a short and shallow recession, according to official figures. Gross domestic product (GDP) grew by 0.6% in the first quarter of the year, following contractions of 0.3% in the previous quarter and 0.1% in the quarter before that. The Office for National Statistics (ONS) states that the growth was driven by a 0.7% increase in the service sector. The positive news is expected to provide a much-needed boost for Prime Minister Rishi Sunak and the ruling Conservative Party ahead of the upcoming general election.