The UK economy grew a touch in the final quarter of last year, according to figures released on Friday by the Office for National Statistics, meaning a recession was avoided in the second half.
The GDP figure was revised up from an initial estimate of zero growth to 0.1% growth, following a 0.1% contraction in the third quarter.
Darren Morgan, director of economic statistics at the Office for National Statistics, said: “The economy performed a little more strongly in the latter half of last year than previously estimated, with later data showing telecommunications, construction and manufacturing all faring better than initially thought in the latest quarter.
“Households saved more in the last quarter, with their finances boosted by the government’s energy bill support scheme.
“Meanwhile, the UK’s balance of payments deficit with the rest of the World narrowed, driven by increased foreign earnings by UK companies, particularly in the energy sector.”
