UK economy emerges from recession with strongest growth in two years

The UK's economy has exited a shallow recession, with gross domestic product (GDP) increasing by 0.6% in the first quarter of 2024, according to the Office for National Statistics (ONS). This growth is driven by the services sector, which has flourished since the start of the year. The 0.6% increase is a better performance than expected by economists and marks the strongest rate of quarterly growth since 2021. The economy had shrunk for two consecutive quarters at the end of last year, meeting the technical definition of a recession due to elevated inflation. Prime Minister Rishi Sunak has described the economy's performance as "gangbusters" in the first quarter.