LONDON, March 14. /TASS/. UK’s GDP declined by 0.1% in January 2025, according to a report by the Office for National Statistics (ONS) of the United Kingdom.
This was an unexpected result – most analysts polled by Reuters expected 0.1% growth.
The ONS noted that the main factor that led to the GDP decline was a 0.9% drop in the manufacturing sector after its growth of 0.5% in December 2024. Growth in the services sector also slowed down to 0.1% in January from 0.4% in December. The construction sector also saw a decline of 0.2%, which coincided with the result of December last year.
Following the publication of GDP statistics, the pound sterling exchange rate fell against the dollar by 0.2% reaching $1,292 per pound.
