Nigeria, March 15 -- The UK economy unexpectedly shrank by 0.1% in January, marking a disappointing start to the year as economic uncertainties persist.

Data from the Office for National Statistics (ONS) revealed that the contraction was largely driven by a decline in the production sector, raising concerns about the country's economic resilience.

Pound and Bond Yields React

Following the data release, the British pound slipped by 0.15% against the dollar, trading at $1.293, while remaining stable against the euro. Meanwhile, long-term government borrowing costs rose, with 20-year gilt yields increasing by 2 basis points and 30-year gilt yields climbing by 4 basis points.

Sectoral Performance: Mixed Signals

The services sector grew b...