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.

Sterling lost some ground versus the dollar on Friday after data painted a grim picture of the British economy, and it softened against the euro as prospects of a German debt deal lifted the shared European currency.

The UK economy unexpectedly contracted by 0.1% in January marking the latest blow to Chancellor Rachel Reeves.

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. The data provides a fresh blow to the government and Prime Minister Keir Starmer,

Britain’s economy contracted in January amid a sharp fall in the manufacturing sector, in a blow to Chancellor Rachel Reeves before her spring statement, official figures have shown.

The Office for National Statistics (ONS) said the economy contracted 0.1% during the month, behind expert predictions and down from a 0.4% rise in December. | ITV National News

LONDON] The UK economy unexpectedly shrank at the start of 2025, piling fresh pressure on the Labour government over the lack of momentum since it returned to power last summer. Read more at The Business Times.

Britain’s economy shrunk in January amid a sharp fall in the manufacturing sector, in a blow to Chancellor Rachel Reeves before her spring statement, official figures have shown. The Office for National Statistics (ONS) said the economy contracted 0.1% during the month, behind expert predictions and down from a 0.4% rise in December.

The economy contracted by 0.1%

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