UK economy unexpectedly shrank by 0.1% in January in blow to Rachel Reeves
The UK economy contracted by 0.1 per cent in January in a blow to Rachel Reeves and Sir Keir Starmer’s growth mission, according to the Office for National Statistics (ONS).Just weeks before the chancellor delivers her spring statement setting out the government’s spending plans, the ONS said the economy started the year shrinking. The fall in gross domestic product (GDP) was a shock, with most economists expecting it to have risen by 0.1 per cent in the first month of the year. Responding to the fall, the Conservatives branded Labour “growth killers”The slowdown is a blow to chancellor Rachel Reeves More