UK monthly GDP data for January

The United Kingdom’s economy unexpectedly reduced 0.1% month by month in January, Official figures showed on Friday.

The Great Britain National Statistics Office said the fall was mainly due to a contraction in the production sector.

Economists surveyed by Reuters expected the country’s GDP to grow by 0.1%.

The production of services collected 0.1% month by month in January, but marked a slowdown in the increase of 0.4% of December. Production production decreased by 0.9% in the month, after registering a 0.5% increase in the previous month. Meanwhile, the monthly production of construction fell into another 0.2% in January, after losing 0.2% in December.

The United Kingdom’s economy grew 0.1% in the fourth quarter, exceeding expectations, ONS data Shown last month. He FLATINED in the third quarter.

The monthly GDP data has been marked since then, with a contraction of 0.1% in October, An expansion of 0.1% in November and an expansion of 0.4% month by month in December thanks to the growth of services and production.

The launch of the GDP on Friday will be the last impression of data before the “Spring Declaration” of the United Kingdom Treasury on March 26, when Foreign Minister Rachel Reeves presents an update on her plans for the British economy.

The declaration is published together with the economic forecasts of the Office for Budget Responsibility, the Independent Economic and Fiscal Pronosticator of the United Kingdom, which gives its evaluation on the probable impact of government expenses and expenses.

There have been concerns that Treasury tax plansThat past falls were established and that the tax burden will increase for British companies, could weigh on investment, jobs and growth. Reeves has defended tax increases, saying that they are a unique and necessary measure to boost investment in public services.

The Bank of England made its first interest rate cut of the year in February, which indicates more cuts, since it would reduce half of the United Kingdom’s growth forecast by 2025 from 1.5% to 0.75%.

The markets expect that the Bank of England holds stable rates at 4.5% at its meeting of the Monetary Policy Committee next week, according to LSE data on Friday.

The Central Bank said it would judge how to balance the need to boost the growth with the inflationary risk raised by the commercial rates of the president of the United States, Donald Trump. The United Kingdom has not been attacked so far.

This latest news is being updated.