India, Feb. 13 -- The U.K. economy logged a surprise expansion in the fourth quarter of 2024, but the mild growth is unlikely to ease the pressure on the Chancellor who aims to turbocharge growth.
Gross domestic product grew 0.1 percent from the third quarter, when there was nil growth, the Office for National Statistics reported Thursday.
The figure defied the 0.1 percent contraction that both economists and the Bank of England had expected.
Data showed that the 0.1 percent growth was solely driven by a large increase in changes in inventories rather than exports and gross fixed capital formation.
Household expenditure registered no growth in the fourth quarter, while government spending increased 0.8 percent. Gross fixed capital forma...