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Economic deep dive: Q1 2024

Your quarterly guide to the UK economy; making sense of the key trends and what's driving them.

26 Mar 2024, 1 min read

Quarterly highlights:

UK economy returns to growth in early 2024

GDP rose by 0.2% m/m in January, following a contraction of 0.1% in December. Business surveys suggest that the UK economy is on course to exit its mild “technical recession” in Q1 2024.

Inflation falls to its lowest level since September 2021

CPI inflation fell to 3.4% in February (from 4% in January), driven by large base effects in the food & drink and hospitality categories. Inflation is likely to temporarily fall below the Bank of England’s 2% target

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