Money News Overview Wednesday 13th March: The UK’s recession could be the shortest in history

The UK economy grew 0.2% in January, marking the first positive growth since last month’s recession announcement. Read more on market reactions.

According to official numbers released earlier this morning, the UK economy grew again in January.

The measure of everything generated in the UK, known as gross domestic product (GDP), increased by 0.2%, according to the Office for National Statistics.

It is the first official economic growth announcement since a recession was declared last month, following two consecutive three-month spells of negative economic growth.

Over in the U.S In the immediate aftermath of the CPI release, the dollar remained firmer. However, the dollar gave up some of its gains before the close last night. 

However, in early trading, sterling has not been impacted by the report. Later today, Eurozone industrial production figures for January will be announced. Barring any huge surprises, the data are unlikely to have an influence on currency markets.

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