technical recession

  • Finally out of recession! UK stocks rally, FTSE 100 hits record high

    The Office for National Statistics (ONS) said today (10) that the UK\’s gross domestic product (GDP) grew by 0.6% in the first quarter of this year, higher than analysts\’ expectations of 0.4%, the strongest growth performance since the end of 2021, and breaking away from the After two consecutive quarters of shrinkage in a technical recession, the pound-dollar (USDGBP) exchange rate rose 0.1% to $1.2537 after the data was released. The FTSE 100 index hit a new record high after the opening, breaking through the 8,400-point mark.