Figures published by the Office for National Statistics on 10 May 2024 show that the UK has officially exited recession.
UK gross domestic product (GDP) is estimated to have increased by 0.6% in Quarter 1 (Jan to Mar) 2024, following declines of 0.3% in Quarter 4 (Oct to Dec) and 0.1% in Quarter 3 (July to Sept) 2023. The UK had entered a period of recession after its GDP had shrunk for more than two quarters in a row.
To read more, see: https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/januarytomarch2024
Amazon is set to close all 19 of its UK Amazon Fresh grocery stores less than five years after launching the till-free sites in London. Five of the stores may be converted into Whole Foods outlets, another grocery brand owned by Amazon.
Cyber incidents continue to feature in the news headlines, with airports now joining large UK retailers and manufacturers in experiencing serious disruption to supply chains and services.
