The UK economy unexpectedly lost momentum in February. Gross domestic product (GDP) stagnated compared to January, statistics bureau ONS reports in London on Thursday.
At the start of the year, the British economy grew by 0.4 percent revised (from 0.3 percent). Analysts had expected growth of 0.1 percent for February.
In a comparison of three months to February, the development is slightly better. As also reported by the statistics office, British economic output rose slightly by 0.1 percent during this period.
weak industry
The growth of economic output in February was surprisingly slowed down by developments at industrial companies. As the statistical authority also announced, industrial production fell by 0.2 percent on a monthly basis.
Analysts, on the other hand, had expected a growth of 0.2 percent. January’s industrial production figure was also revised downwards, to a fall of 0.5 percent. The services sector also developed weakly. Here, an index value for February showed a month-on-month decline of 0.1 percent. (oee/sda/awp/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
