The UK exits recession

Christopher Dowling
May 20, 2024

New figures today show the UK is no longer in recession. The economy grew by 0.6% between January and March this year.

The UK exits recession

A recession is where the economy is negative for 2 lots of 3 month periods (so 2 quarters of a year). This is measured by GDP (gross domestic product), which is a measure of the country’s economy.

The UK exits recession

The economy has increased this year due to more people spending money, which includes shopping and public transport.

The economy growing is a positive sign, but there’s still a very long way to go to improve people’s financial lives. Jeremy Hunt, the Chancellor, said the figures show the economy is 'returning to full health'.

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