The UK economy contracted by 0.1 per cent in March as the cost of living crisis and rising inflation hit families.
Data from the Office for National Statistics (ONS) compares with no growth in February and a 0.7 percent increase in January.
In the first quarter of the year, from January to March, the economy grew by 0.8%. – against 1.3%. In the past three months.
Darren Morgan, director of economic statistics for the Office for National Statistics, said: “The UK economy grew for the fourth consecutive quarter and is now above pre-pandemic levels, although growth in the past three months has been the slowest in a year.
This was due to growth in many service sectors as the economy continued to recover from the effects of Covid-19, including hospitality, transportation, employment and travel agencies. There has also been strong growth in information technology.”
He added: “Our latest monthly estimates show that gross domestic product (GDP) fell somewhat in March, with declines in both services and manufacturing.
“However, construction had a good month, thanks in part to the repair work that followed the February storms.”
This story is being updated.
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