Britain’s economy is on the road to recovery. After a dismal end to last year as soaring living costs forced households to cut back their spending, official figures show growth returned in January with a modest 0.2% increase.
The early signals show that the UK is on track to emerge from a minor recession within months, powered by a recovery in consumer spending amid resilient pay growth and receding inflation. But that isn’t to say the economy is racing ahead, or that a renaissance in living standards awaits.
