UK Economy Stagnates In January

(RTTNews) - The UK economy logged no growth in January, as growth in construction was offset by contraction in industry and flat services activity, the Office for National Statistics reported Friday.

Gross domestic product remained flat after rising 0.1 percent in December and 0.2 percent in November. Economists had forecast a monthly growth of 0.2 percent.

The dominant service sector registered no growth and industrial production edged down 0.1 percent. Meanwhile, the construction sector expanded 0.2 percent.

On a yearly basis, the economy expanded 0.8 percent in January, slightly weaker than forecast of 0.9 percent.

In the three months to January, real GDP grew 0.2 percent, following a growth of 0.1 percent in the three months to December.