The UK economy bounced back in January with GDP rising by 0.5%, offsetting the -0.4% decline in December.
The latest figures from the Office for National Statistics show UK GDP grew by 0.2% in the three months to January 2019, with the services sector being the main driver of growth.
Production grew 0.6% in January, with Construction bouncing back with an impressive 2.8% growth, following December’s fall. Manufacturing also grew by 0.8% in January, again, reversing December’s negative growth.
Breakdown of GDP growth rates by month
|November 2018||December 2018||January 2019|
|Index of Services||0.3%||-0.2%||0.3%|
|Index of Production||-0.3%||-0.5%||0.6%|