The UK moved out of recession, the latest GDP data showed, and outperformed market expectations, driving the FTSE 100 ever higher
The UK economy grew by 0.6% in the first quarter of the year, driven by a 0.7% increase in services output, beating analysts’ forecasts and ending the technical recession seen last year. Nominalis estimated to have grown by 1.2% in Q1. According to ONS chief economist Grant Fitzner, ‘ to paraphrase the former Australian Prime Minister Paul Keating, you could say the economy is going gangbusters.’expectations were pared back marginally post-data.
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