New figures due to show health of UK's economy
7 months ago
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Summary
- Revised GDP figures will be published at 07:00 GMT - after initial data last month showed the UK was in a recession
- GDP (Gross Domestic Product) is a measure of all the economic activity of companies, governments and individuals in a country
- It's an important tool for judging how well an economy's doing - when it grows, more jobs are created, people spend more, and more tax is collected
- Last month, initial figures showed it shrank by 0.3% in the last quarter of the year, following a fall of 0.1% in the previous three-month period
- But GDP did grow by 0.1% across the whole of 2023, the data showed
- One of PM Rishi Sunak's five pledges for last year was to "grow the economy" so opponents will be watching the figures closely
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- New figures due to show health of UK's economy