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LONDON (AP) — The British economy has shown a strong rebound in the first three months of the year, ending a "technical recession," according to official figures released Friday. The Office for National Statistics reported a 0.6% growth in the first quarter, surpassing economists' predictions and marking the strongest growth since the fourth quarter of 2021. Despite this, the British economy has barely grown over the past year, with interest rates at 16-year highs of 5.25%. There is hope that interest rates may be lowered soon, with Bank of England Gov. Andrew Bailey indicating a potential rate cut in June if inflation continues to trend downwards. Economists are hopeful that the British economy may be entering a period of more sustained growth, but it is not expected to be particularly strong, with the Bank of England predicting only 0.5% growth this year. The recovery is seen as a turning point for the economy, with politicians hoping for a relief in financial pressure on households.
