Economy grew faster than expected in first quarter of 2023, ONS says

The UK economy grew faster that expected between January and March this year, new revised official figures have suggested.

The Office for National Statistics (ONS) said that it now thinks that gross domestic product (GDP) rose by 0.3% in the first three months of the year, up from the 0.1% previously estimated.

The ONS left its estimate for the second quarter of the year unchanged, it said on Friday.

ONS chief economist Grant Fitzner said: “Our new estimates indicate a stronger performance for professional and scientific businesses due to improved data sources.

“Meanwhile, healthcare grew less because of new near real-time information showing the cost of delivering services.”

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