BBC Breakfast hosts Naga Munchetty and Ben Thompson interrupted Thursday’s (February 13) live broadcast to announce some “breaking” news.
The pair revealed the latest UK economy figures, with the Office for National Statistics (ONS) confirming that the economy grew by 0.1% in the final quarter of 2024, following no growth in the previous three months.
“Now, in the last few minutes, we’ve had the latest figures showing us how the economy performed at the end of last year,” Ben began.
“So, there was a small margin of growth at the end of last year,” Naga added before handing over to correspondent Ben Boulos, who was reporting from a tea factory in Newcastle.
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BBC Breakfast hosts Naga Munchetty and Ben Thompson announced breaking news on Thursday (February 13) (Image: BBC)
“We’re at this tea factory, and I think it’s fair to say there’s a little bit of hope brewing in terms of the economy, with figures in the last few minutes showing that in the three months at the end of last year, the UK economy grew by 0.1 percent,” Ben said.
“It doesn’t sound much but remember the expectation had been that it had shrunk, so this will be welcome news for the chancellor, for the government. They have repeatedly said that economic growth is the UK’s top priority, it is their focus, and what they feel that the UK really needs to focus on.”
Ben went on to explain that gross domestic product (GDP) is an important health check on the economy, as it measures whether there’s an increase in business activity across the country.
The small economic growth figure means that factories, shops and offices are are taking on more staff and investing in more equipment, with more people earning money and then paying taxes to help pay for more services.
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BBC Breakfast correspondent Ben Boulos shared an update on the UK economy (Image: BBC)
“That is why it is so crucial and such a big focus for the UK government. This latest figure comes just a week, though, after the Bank of England halved its growth forecast for the coming year, expecting the UK economy growth by just 0.75% in 2025,” Ben concluded.
The ONS also estimated that the economy expanded by 0.4% in December, which is better than most analysts expected. The latest figures mean that the economy grew by 0.9% overall in 2024.
Chancellor Rachel Reeves welcomed the news in a statement: “After 14 years of flatlining living standards, we are going further and faster through our plan for change to put more money in people’s pockets.
“That is why we are taking on the blockers to get Britain building again, investing in our roads, rail and energy infrastructure, and removing the barriers that get in the way of businesses who want to expand.”
Breakfast airs daily on One at 6am