The economy shrank in January mainly due to a fall in manufacturing
Figures released this morning by the Office for National Statistics showed that GDP is estimated to have fallen 0.1% in January 2025
However Real GDP is estimated to have grown by 0.2% in the three months to January 2025, compared with the three months to October 2024, mainly because of growth in the services sector.
The figures suggest a General picture of weak growth, weighed down by oil and gas prices but some resilience is being shown in services especially in retail.
