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- UK gross domestic product grew by 0.0% in February 2019
UK gross domestic product grew by 0.0% in February 2019
According to the report from Office for National Statistics, Britain's economy unexpectedly grew in February, helped by clients of manufacturers rushing to stockpile goods ahead of Brexit.
Gross domestic product grew by 0.2 percent from January. Economists had expected zero growth.
Data showed that over the three months to February, the economy grew by 0.3 percent, holding at the same pace as in January -- which was revised up from a previous estimate -- and stronger than a forecast of 0.2 percent. Manufacturing output jumped by 0.9 percent in February from January, accounting for about half of the overall economic growth rate.
Commenting on today’s GDP figures, Head of GDP Rob Kent-Smith said: “GDP growth remained modest in the latest three months. Services again drove the economy, with a continued strong performance in IT. Manufacturing also continued to recover after weakness at the end of last year with the often-erratic pharmaceutical industry, chemicals and alcohol performing well in recent months.”
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