The cost of living crisis and the influence of the war in Ukraine probably means that the 0.8% m/m leap in GDP in January is as good as it gets for this year. Meanwhile, two-thirds of the huge 20% m/m fall in UK exports to the EU in January is due to a change in the way exports are measured. Even so, the bigger picture is that exports are still struggling to recover from the combined hit from the pandemic and Brexit.
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