Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK economic growth slowed to a crawl in February, rising by just 0.1% after a 0.8% increase in January, the Office for National Statistics said Monday. That’s well below the expected 0.3% forecast, but falls in line with the outcome suggested by MNI’s preview published last week. That leaves output 1.1% above pre-pandemic levels.
The manufacturing sector declined by 0.4%, dampened by a 5.4% plunge in transport equipment. Auto companies reported increased difficulties in sourcing components, according to an ONS official. Manufacturing shaved 0.04 percentage points from total GDP growth and remains 0.7% below pre-pandemic levels.
The services sector did all the heavy lifting in February, rising by 0.2% to contribute 0.13 percentage points to growth. Tourism, accommodation and travel agents accounted for much of the strength, said an official. Construction declined by 0.1%, but remains above pre-pandemic levels.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.