UK economy shrank unexpectedly by 0.3% in March

But there was 0.1% growth in first quarter overall, thanks to a stronger January

The UK economy shrank unexpectedly in March, by 0.3%, as the cost of living crisis and industrial action took a toll.

However, the economy grew by 0.1% over the first quarter as a whole, mainly because of a strong January, while growth flatlined in February, according to the Office for National Statistics. It followed 0.1% growth in the final quarter of 2022.