UK economy shrinks 0.1% in January following decline in factory output – business live

08.13 CET Introduction: UK economy shrinks 0.1% in January following decline in factory output Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. The UK economy unexpectedly shrank in January following a decline at factories. GDP is estimated to have fallen 0.1% in January, mainly caused by a 0.9% fall in the production sector, according to the Office for National Statistics. This comes after 0.4% economic growth in December. Economists had expected the economy to grow by 0.1% in January. It was a poor month for manufacturing and construction, both in decline,…