{"id":33250,"date":"2023-05-12T07:34:42","date_gmt":"2023-05-12T07:34:42","guid":{"rendered":"https:\/\/www.nsemgh.com\/?p=33250"},"modified":"2023-05-12T07:34:45","modified_gmt":"2023-05-12T07:34:45","slug":"uk-economy-shrinks-in-march-but-still-grows-in-q1","status":"publish","type":"post","link":"https:\/\/www.nsemgh.com\/2023\/05\/12\/uk-economy-shrinks-in-march-but-still-grows-in-q1\/","title":{"rendered":"UK economy shrinks in March but still grows in Q1"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>The UK economy shrank in March, but still achieved growth in the first quarter of this year.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">New data from the Office for National Statistics shows that UK GDP fell by 0.3% in March, worse than economists expected.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That follows stagnation in February.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The contraction in March was driven by a 0.5% fall in&nbsp;<strong>services<\/strong>&nbsp;<strong>sector<\/strong>&nbsp;activity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Production<\/strong>&nbsp;output grew by 0.7% and&nbsp;<strong>construction<\/strong>&nbsp;by 0.2%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Output in consumer facing services fell by 0.8% in March 2023, after unrevised growth of 0.4% in February.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Looking at the broader picture, though, GDP grew by 0.1% in the three months to March 2023, confirming that the UK avoided falling into recession last winter.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">GDP fell 0.3% in March 2023 but grew 0.1% across Quarter 1 (Jan to Mar) 2023 as a whole.<br><br>\u27a1\ufe0f <a href=\"https:\/\/t.co\/iYul07EYRr\">https:\/\/t.co\/iYul07EYRr<\/a> <a href=\"https:\/\/t.co\/c2PFJdcPhB\">pic.twitter.com\/c2PFJdcPhB<\/a><\/p>&mdash; Office for National Statistics (ONS) (@ONS) <a href=\"https:\/\/x.com\/ONS\/status\/1656902577609383938?ref_src=twsrc%5Etfw\">May 12, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The UK economy shrank in March, but still achieved growth in the first quarter of this year. New data from the Office for National Statistics shows that UK GDP fell by 0.3% in March, worse than economists expected. That follows stagnation in February. The contraction in March was driven by a 0.5% fall in&nbsp;services&nbsp;sector&nbsp;activity. Production&nbsp;output [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":29046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61],"tags":[7396,5196,9127,1237,6543,6069,5266,5350,12605,10060,8964],"class_list":["post-33250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-data","tag-economy","tag-february","tag-gdp","tag-growth","tag-recession","tag-rishi-sunak","tag-twitter","tag-uk","tag-uk-economy","tag-winter"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/33250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=33250"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/33250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/29046"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=33250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=33250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=33250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}