Britains Economy Squeezes Out 0.1% Growth

The British economy eked out growth at the end of last year, data published on Thursday showed, slightly easing the pressure on the government as it tries to quicken the pace of economic growth.Gross domestic product increased 0.1 percent in the last three months of 2024, following zero growth in the previous quarter.Most economists, including at the Bank of England, had expected another quarter of stagnation at the end of the year, but the economy grew faster than expected in December because of a jump in activity in the service sector.The Labour Party, which came to power last summer, has said economic growth is its No.1 mission.

But so far growth has been mostly elusive, with the economy staying roughly the same size since last spring.Lawmakers have vowed to shore up public finances, increase investment and fix public services to bolster economic growth and improve living standards.Some of the government’s early measures have been criticized, particularly the decision to raise taxes on employers.For much of last year, the government also spread bleak warnings about the state of the economy, which weighed on consumer and business confidence.

In recent weeks, there was a shift to a more optimistic tone.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe....