Cost of living and strikes weigh on growth The UK economy grew by just 0.1% in the first three months of the year, according to figures from the Office for National Statistics (ONS), with strikes, cost of living pressures and wet weather all dragging on growth. The figures showed that while the economy grew slightly over the first three months of 2023, in March it contracted by 0.3%, with car sales and the retail sector having a bad month. The economy is still 0.5% smaller than pre-pandemic levels, the ONS said.