UK economy shrinks 0.1% in January, driven by industrial downturn

By Gokhan Ergocun

ISTANBUL (AA) - The UK’s gross domestic product (GDP) contracted by 0.1% in January, marking a slowdown after a 0.4% growth in December, the Office for National Statistics (ONS) reported Friday.

The decline was primarily driven by a fall in the production sector, after a growth of 0.4% in December 2024, the office stated.

It added that the GDP is estimated to have grown by 0.2% in the three months to January 2025, compared with the three months to October 2024, largely supported by growth in services.

Monthly services output grew by 0.1% in January 2025, following growth of 0.4% in December 2024, and grew by 0.4% in the three months to January 2025.

Production output decreased by 0.9% in January 2025, after growth of 0.5% in December 2024, and dropped by 0.9% in the three months to January 2025, with manufacturing output driving both the monthly and three-month falls.

Construction output went down by 0.2% in January 2025, following a decline of 0.2% in December 2024, but grew by 0.4% in the three months to January 2025.