Copies of the Evening Standard outside the Bank of England in the City of London, after figures showed Britain’s economy slipped into a recession at the end of 2023.
Yui Mok | Pa Images | Getty Images
The U.K. economy has emerged from a recession as gross domestic product rose 0.6% in the first quarter, official figures showed Friday, beating expectations.
Economists had expected growth of 0.4% on the previous quarter.
The U.K. entered a shallow recession in the second half of 2023, as persistent inflation dragged the economy.
Although there is no official definition of a recession, two straight quarters of negative growth is widely considered a technical recession.
This is a breaking news story and will be updated shortly.