The U.K. economy unexpectedly shrank in the first month of the year, the latest frustration for a relatively new government that has pledged to bring an end to a decade-and-a-half of stagnation.
Gross domestic product was 0.1% lower in January than in the final month of 2024, the Office for National Statistics said Friday, weaker than the 0.1% rise expected by a consensus of economists. It also marks a slowdown from the 0.4% recorded in December.