According to the Office for National Statistics, the UK’s GDP increased by 0.3% in January, which is good news for Chancellor Jeremy Hunt ahead of next week’s budget.
The growth was attributed to the return of the Premier League, increased use of private healthcare due to problems in the NHS, and broader growth in the service sector.
However, the overall long-term growth remains stagnant, and the figures also revealed a decline in manufacturing and construction work.
In response to the news, Chancellor Hunt acknowledged that the UK economy had been more resilient than expected in the face of global challenges but added that there is still much work to be done to halve inflation, reduce debt, and grow the economy to improve living standards.
»UK GDP rises 0.3% in January thanks to football and private healthcare«
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