UK economy unexpectedly posts growth in Q4

ANKARA

British economy unexpectedly grew 0.1% in the fourth quarter of last year compared to the previous period as flash data had estimated stagnation.

The UK gross domestic product (GDP) increased 0.1% quarter-on-quarter in October-December 2022, revised from a first estimate of no growth, the Office for National Statistics said.

The figure followed an upwardly revised decrease of 0.1% in the third quarter.

Compared with the same quarter a year ago, the GDP increased by 0.6%, much better than the flash reading of a 0.2% growth.

In 2022, British economic growth was revised upwards to 4.1% from the previous estimate of 4.0%.