The British economy unexpectedly shrank during January, piling pressure on Treasury chief Rachel Reeves before a key statement about the state of the public finances later this month

The U.K.'s economy unexpectedly shrank by 0.1% month-on-month in January, official figures showed on Friday. Britain's Office for National Statistics said the fall was mainly due to a contraction in the production sector. Economists polled by Reuters had expected the country's GDP to grow by 0.1%.

Britain’s economy unexpectedly shrank in January, official data showed Friday, piling more pressure on the Labour government ahead of its Spring Statement on the economy. Gross domestic product contracted 0.

The British economy shrank in the first month of 2025 compared with December, driven by a decline in production. View on euronews