The U.K. gross domestic product increased by 0.1% in February, indicating a return to slow economic growth. Construction output fell 1.9% while production output rose by 1.1%. The services sector experienced a slowdown in growth.
LONDON — The U.K. gross domestic product rose 0.1% in February, the Office for National Statistics said on Friday, providing another sign of a return to sluggish economic growth this year.
The month-on-month figure was in line with a projection in a Reuters poll. On an annual basis, GDP was 0.2% lower.January recordedGet Philly local news, weather forecasts, sports and entertainment stories to your inbox.Construction output, which boosted growth at the start of the year, fell 1.9% in February. Instead, production output was the biggest contributor to the GDP, rising by 1.1% in February, while growth in the U.K.'s dominant services sector slowed to 0.1% from 0.3%.
The reading"all-but confirms the recession ended" last year, Paul Dales, chief U.K. economist at Capital Economics, said in a note. "But while we expect a better economic recovery than most, we doubt it will be strong enough to prevent inflation from falling much further as appears to be happening in the U.S.," Dales added.
UK GDP Economic Growth Construction Output Production Output Services Sector
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