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UK economy escapes recession with 0.6% growth in the last quarter – business live

Rolling coverage of the latest economic and financial news, as UK economy grows faster than forecast in January-March quarter

Growth in March alone was also stronger than expected.

GDP rose by 0.4% in March, the ONS reports, beating City forecasts for 0.1% growth.

In output terms, services grew by 0.7% on the quarter with widespread growth across the sector; elsewhere the production sector grew by 0.8% while the construction sector fell by 0.9%.

In expenditure terms, there were increases in the volume of net trade, household spending and government spending, partially offset by falls in gross capital formation.

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