UK economy grows 0.1 pct in Q1

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UK economy grows 0.1 pct in Q1

STORY: UK economy grows 0.1 pct in Q1 DATELINE: May 13, 2023 LENGTH: 00:03:33 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of England 2. various of streets in London 3. various of a supermarket in London STORYLINE: The United Kingdom's (UK) economy grew by 0.1 percent in the first quarter (Q1) of this year, official figures showed on Friday. In output terms, the services sector grew by 0.1 percent between January and March, driven by increases in information and communication, and administrative and support service activities, the Office for National Statistics (ONS) said. The construction sector grew by 0.7 percent, the production sector by 0.1 percent, and manufacturing by 0.5 percent. Despite the expansion, the country's quarterly gross domestic product (GDP) is still 0.5 percent below its pre-COVID-19 level (fourth quarter of 2019). The UK remains the only G7 (Group of Seven) country in which the main quarterly measure of GDP has not recovered to its pre-pandemic peak yet, Samuel

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