Businesses react after UK economy unexpectedly shrank in January

Businesses have expressed their disappointment after the UK economy shrank at the start of 2025. The Office for National Statistics (ONS) said that output declined by 0.1% during the month following the 0.4% growth seen in December. Despite the figures, the Chancellor Rachel Reeves said she is determined to turn the economy around. Read more: https://news.sky.com/story/economy-finds-reverse-gear-in-january-with-surprise-contraction-13328304 #economy #chancellor #skynews #economy #gdp #rachelreeves SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: https://www.youtube.com/channel/UCzG5BnqHO8oNlrPDW9CYJog To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales