The UK economy unexpectedly signed a 0.1% contract in January.

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The British economy unexpectedly signed a 0.1 % contract in January, and emphasized the challenge faced by Minister Rachel Rachel Reeves as he is ready to show a high stake this month.

The monthly GDP level of the National Statistical Office was lower than the 0.1 %growth predicted by economists who surveyed Reuters and Death Sewon at 0.4 %. The decrease was greatly led to the weaknesses of the production sector.

Reeves is preparing to devise public spending after being disappointed in the spring statement on March 26, and as the government's borrowing costs, she is anxious that she will track in violation of the fiscal rules.

In early 2024, after the UK economy rebounded in the technology recession, growth was stopped in May and earned tax revenue.

The Labor Party MP and some ministers expressed concern that Ribs is planning politically damaged cuts to alleviate pressure on public finances, such as cutting the welfare budget.

The hardest thing we need to do was recognized the superintendent's allies. But Reeves rewritten the fiscal rules and allowed more borrowings to force her to make a hard choice.

Mel Stride, Prime Minister Mel Stride, urged Reeves to convert the statement to an emergency budget, including the March 26 statement, including a tax increase in the business and an extreme employment bill.

In October, the Budget Office predicted 2 %of economic growth in 2025, doubling 1 %of economic scholars predicted by Reuters. Watch Dock is expected to announce new predictions with the spring statement.

Suren Thiru, an economic director of the Certified Public Accountant Research Institute, said that Reeves Spring Spents became more problematic because the GDP contraction in January increased the likelihood of damaging the minister's expenditure plan by downgrading the predictions.

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After the data release on Friday, the pound was slightly weakened, and it fell 0.1 % from the middle of the morning and traded at $ 1.293. Gild was stable and 10 -year yield increased 0.01 percentage points from 4.70 %.

This figure comes when Donald Trump's falls are added to the prospects for higher defense spending as the Nakjin of the British's economic strains and the US president interrupted the Western security alliance.

Reeves said that the world has changed and has been felt throughout the world, saying that it is a Friday figure.

As a result, we said that since the Cold War, defense spending is increasing the most, and it is taking a blocker to fundamentally reconstruct the British nation and deliver it to the people who work and the family.

The Labor Party won the general election with a promise to begin growth in July, but Ribes was criticized for the budget in October, which resulted in a 400 billion tax increase.

Companies warned of job cuts as a result of measures from April.

Paul Dales, an economist at consulting Capital Economics, emphasized the weakness of the economy before the project rises in January and emphasizes the weakness of the economy before the unclear global background is felt.

British banks are expected to maintain interest rates at 4.5 %next week in signs of inflation recoil. Last month, the central bank reduced its economic growth forecast in the first quarter of 2025 from 0.4 %in November to 0.1 %.

Despite the contraction in January, Thiru said the next week's BOE's cut rate is unlikely to evaluate the effect of the increase in the increase in the donation of employer national insurance due to budget.

Friday data is expected to take second place with a one -quarter of the one -quarter interest rate cuts of the BOE this year, according to the implied level of the SWAPS market.

According to Friday ONS data, the manufacturing sector signed a 1.1 % contract in January and construction decreased by 0.2 %, while the service increased 0.1 %.

LIZ MCKEOWN, director of the Economic Statistics, said the overall picture of the UK economy is weak.

But in January, the service continued to grow, and she said that the strong moon of retailers, especially foods, continued, as people ate more and more at home.

ONS said that the publication of trade data released with GDP numbers was delayed due to errors.

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