Proactive Investors - The UK economy grew slightly faster than expected in the first quarter of the year, new figures from the Office for National Statistics show.
Gross domestic product (GDP) expanded 0.7% in the first three months of the year, stronger than the 0.6% first estimate.
This follows falls in the previous two quarters, including a 0.3% decline at the end of last year, which had left the economy in a shallow technical recession.
First quarter GDP was also up 0.3% versus the first quarter of last year, which also bettered the consensus forecast of 0.2%.
In output terms, services grew by 0.8% versus the preceding quarter with widespread growth across the sector, ONS said, while the production sector grew by 0.6% and the construction sector fell by 0.6%.
Real households’ disposable income (RHDI) is estimated to have grown by 0.7% in Quarter 1 2024, maintaining the same growth as the previous quarter.