UK economy ekes out 0.1% growth in the fourth quarter, beating expectations

The U.K. economy grew by 0.1% in the fourth quarter, surpassing expectations, driven by improvements in the services and construction sectors, while production declined. The Bank of England responded by cutting interest rates and halving its economic growth forecast for the year, prompting criticism of Chancellor Rachel Reeves’ fiscal plans aimed at increasing taxes. Reeves defended the measures, stating they are necessary for public spending and economic growth, as the government focuses on removing barriers for business expansion.

Full Article