New figures due to show health of UK's economy

7 months ago 28
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Summary

  1. Revised GDP figures will be published at 07:00 GMT - after initial data last month showed the UK was in a recession
  2. GDP (Gross Domestic Product) is a measure of all the economic activity of companies, governments and individuals in a country
  3. 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
  4. 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
  5. But GDP did grow by 0.1% across the whole of 2023, the data showed
  6. 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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