UK economy grew 0.5% in February |
| The UK economy saw growth of 0.5% in February, according to the Office for National Statistics (ONS), the biggest monthly rise in more than two years. The ONS said the services sector, which accounts for more than three-quarters of the economy, grew by 0.5%. Production output also grew by 0.5%, while construction rose by 1%. The ONS also revised its estimate for January up to 0.1%, having previously said there had been no growth in the opening month of the year. In the three months to February, GDP grew by 0.5% - up from 0.3% in the three months to January. With economists having forecast that the economy would grow by just 0.1% in February, Deutsche Bank's Sanjay Raja said the actual figure had "smashed expectations." However, analysts expect the conflict in the Middle East to have a negative impact on the economy. |
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