BBC Breakfast presenters Naga Munchetty and Ben Thompson paused Thursday’s (February 13) live show to deliver some “breaking” news.
They shared the latest UK economic figures, with the Office for National Statistics (ONS) confirming a 0.1% economic growth for the final quarter of 2024, an improvement following three months of stagnation.
“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 started.
“So, there was a small margin of growth at the end of last year,” Naga chimed in before passing the segment to correspondent Ben Boulos, who was on location at a tea factory in Newcastle.
“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 reported.
“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 a crucial indicator of economic health, as it measures the increase in business activity across the country.
The slight economic growth indicates that factories, shops, and offices hire more staff and invest in additional equipment. This leads to more people earning money and subsequently paying taxes to fund more services, reports the Express.
“That is why it is so crucial and such a big focus for the UK government. However, this latest figure comes just a week after the Bank of England halved its growth forecast for the coming year, expecting the UK economy to grow by just 0.75% in 2025,” Ben concluded.
The ONS also estimated that the economy expanded by 0.4% in December, exceeding most analysts’ expectations. The latest figures indicate that the economy grew by 0.9% overall in 2024.
Chancellor Rachel Reeves welcomed the news, stating: “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.”
BBC Breakfast airs daily on BBC One at 6am