From Morningstar: 2024-05-10 06:30:00

The UK economy grew by 0.4% in March, exceeding market expectations of 0.1%. In the first quarter of 2024, GDP increased by 0.6%, beating forecasts of 0.4%, pulling the country out of a technical recession. Industrial production rose by 0.2% in March, while the trade deficit narrowed to £1.10 billion.

Industrial production surged by 0.2% in March from February, surpassing expectations of a 0.5% decline. On an annual basis, industrial production improved by 0.5%. The UK trade deficit shrank to £1.10 billion in March, as imports dropped faster than exports. Goods imports declined due to lower imports of machinery and transport equipment and fuels.

In March, the UK trade deficit decreased to £1.10 billion from £2.29 billion in February, as imports fell more sharply than exports. The value of goods imports dropped by 2.5% in March, while the value of goods exports decreased by 1.3%. Exports to non-EU countries fell, but exports to the EU increased.



Read more at Morningstar: UK Economy Exits Recession With Forecast-Beating…