GDP rose by 0.6% in first quarter of 2024 but forecasters expect economy to grow slowly this year
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The UK is officially out of recession after figures showed the economy grew by 0.6% in the first three months of the year.
The Office for National Statistics (ONS) said the period from January to the end of March marked a return to growth after a mild recession in the second half of 2023. It was the strongest rate of quarterly growth since the end of 2021, and a better performance than expected by economists, who forecast growth of 0.4% in the first quarter.
