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UK GDP estimated to have grown 0.1% in February

GDP now 1.5% above pre-pandemic level

The UK’s gross domestic product (GDP) is estimated to have grown by 0.1% in February, according to Office of National Statistics on Monday.

The GDP is now 1.5% above its pre-coronavirus pandemic level in February 2020, it said.

The services sector grew by 0.2%, becoming the main contributor to February’s GDP growth.

This, however, was partially offset by production,which fell by 0.6%, and construction that declined by 0.1%.

In February, eight of the 14 service sectors were above their pre-coronavirus levels, with the largest contribution coming from human health and social work activities, growing 9.8% from February 2020, it said.

Production output decreased by 0.6% in February, while manufacturing was the main driver of negative growth by falling by 0.4%, it added.

Source
AA

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