UK economy shrank unexpectedly in January

The UK economy unexpectedly shrank by 0.1% in January, attributed to a slowdown in manufacturing, following a 0.4% growth in December. This weak performance may impact government plans to boost economic growth, with the upcoming Spring Statement expected to include spending cuts. Despite some sectors like retail showing growth, overall economic growth remains weak, leading to concerns about vulnerability and possible downward revisions in growth predictions.

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