MNI DATA IMPACT: UK Feb 3M GDP Steady, Financ'l Sector Slows>

By Shaily Mittal and Les Commons

     LONDON (MNI) - The UK short-term indicators released Wednesday 

showed modest UK growth in February, with the rolling 3-month rate at 

0.3%, in line with January's number.

Here are five points of note from the data published by the Office for 

National Statistics

--The financial and insurance sector continued to contract, recording a 

12th straight month without growth and a 22nd straight rolling 

three-month period without growth - both record streaks, the ONS said. 

--February saw trade deficits with both EU and non-EU countries widen on 

a three-month basis. On an annual basis, trade in goods widened with 

both. Imports from the EU rose to stg23.677 billion in February, a 

record high in cash terms. 

--Manufacturing and overall production recovered somewhat in February, 

contributing the most to GDP growth in the month, up 0.09pp each. 

--The service sector, the engine of the UK economy, slowed in February, 

with growth of just 0.1% vs 0.3% in January. However, it still 

contributed 0.08pp to overall growth in the month.

--The ONS said there was anecdotal evidence from some survey respondents 

of stockpiling ahead of the then March 29 Brexit deadline. However, 

statisticians said they couldn't quantify the survey responses.  

-London bureau: 44 (0) 203 865 3812; email: ukeditorial@marketnews.com 

[TOPICS: M$B$$$,MABDS$,MAUDR$]