Businesses react after UK economy unexpectedly shrank in January

Businesses have expressed their disappointment after the UK economy shrank at the start of 2025.

The Office for National Statistics (ONS) said that output declined by 0.1% during the month following the 0.4% growth seen in December.

Despite the figures, the Chancellor Rachel Reeves said she is determined to turn the economy around.

Read more: https://news.sky.com/story/economy-finds-reverse-gear-in-january-with-surprise-contraction-13328304

#economy #chancellor #skynews #economy #gdp #rachelreeves

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