Britain's economy unexpectedly contracted in January, extending a run of stop-start data that has dogged finance minister Rachel Reeves' attempts to ignite growth, before an update to parliament on the economic outlook.

The UK economy shrank unexpectedly in January, in a blow to the government ahead of its Spring Statement later this month. The economy contracted by 0.1%, which was weaker than forecast, driven mainly by a decline in the manufacturing sector.

Britain's economy unexpectedly shrank in January, official data showed Friday, piling more pressure on the Labour government ahead of its Spring Statement on the economy.

Peru's economy likely expanded some 4% in January, the central bank's chief economist, Adrian Armas, said in a call on Friday, in line with analysts' forecasts and a day before the government is set to publish the monthly figure.

The slowdown in January piles further pressure on Rachel Reeves and Sir Keir Starmer ahead off this month’s spring statement