United Kingdom: Marginal economic growth in February

The UK economy grew marginally in February, with economists expecting more difficulties in the future, as the effects of the war in Ukraine fuel a high rate of inflation.

The economy grew at a rate of 0.1% in February compared to the previous month, according to the statistical service ONS, slightly lower than the growth of 0.2% expected by economists.

The services sector, especially consumer services, was the main driver of economic growth during the month.

However, this was partially offset by the decline in industrial and construction activity.

In January, the economy grew by 0.8%, mainly due to the recovery of these consumer services, following the lifting of coronavirus restrictions.

Economic growth in the UK is expected to slow in the coming months as the cost-of-living crisis causes household disposable income to fall and hit consumer spending, economists say.

Source: Capital

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