Open DazemBringing You the Latest Stories, Unfiltered and Fast
UK economy shrinks as GDP falls by 0.1% – what it means for your money
admin 1 day agoBlogsComments Off on UK economy shrinks as GDP falls by 0.1% – what it means for your money2 Views
Understanding GDP and Its Impact on the Economy
Understanding GDP
Video Player is loading.
Current Time 0:00
/
Duration 0:00
Loaded: 0%
0:00
Stream Type LIVE
Remaining Time -0:00
1x
2x
1.75x
1.5x
1.25x
1x, selected
0.75x
0.5x
Chapters
descriptions off, selected
captions settings, opens captions settings dialog
captions off, selected
en (Main), selected
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
End of dialog window.
This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.
BRITAIN’S economy fell 0.1% in January, caused by a fall in the production sector, according to official figures.
The latest figures from the Office for National Statistics (ONS) reveal Gross Domestic Product (DGP) fell marginally in January.
The latest figures for GDP show the economy fell in January
GDP is one of the main indicators used to measure the performance of a country’s economy.
When it goes up, it means the economy is doing well, when it falls it means the economy has shrunk.
What is the Bank of England base rate and how does it affect me?
Money matters
Video Player is loading.
Current Time 0:00
/
Duration 1:59
Loaded: 0%
0:00
Stream Type LIVE
Remaining Time -1:59
1x
2x
1.75x
1.5x
1.25x
1x, selected
0.75x
0.5x
Chapters
descriptions off, selected
captions settings, opens captions settings dialog
captions off, selected
en (Main), selected
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
End of dialog window.
This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.
Liz McKeown, Director of Economic Statistics at the ONS, said: “The economy shrank a little in January but grew in the latest three months as a whole, with the overall picture continuing to be of weak growth.”
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.