Cautious optimism as UK GDP turns positive in January

Three-month figure remains negative

Experts have expressed cautious optimism over the UK’s return to growth, with monthly GDP up 0.2% in January, although the three-month figure remains negative at 0.1%.

Figures from the Office for National Statistics also revealed the nation remained in the red on a year-on-year basis, down 0.3% on January 2023's print. While Tom Stevenson, investment director at Fidelity International, noted the "short and shallow recession may already be over", he warned the rising unemployment and slowing wage growth show the economy is "not out of the woods yet". He added the Bank of England is "likely to sit on its hands" over H1 while it waits for a clearer picture of the nation's growth and inflation trajectory. 'More questions than answers' as inflation re...