Stockpiling, IT See Modest But Positive Feb.>

UK DATA: Stockpiling, IT See Modest But Positive Feb GDP Growth

-UK Feb GDP Up 0.2% m/m; Services Up 0.1% m/m; Manufacturing Up 0.9% m/m

------------------------------------------------------------------------

UK economic activity continued to increase, albeit at a modest pace, in 

February, boosted by relatively strong performances in the manufacturing 

and information technology sectors. The manufacturing sector added 0.09 

pp and the service sector added 0.8 pp to Feb monthly GDP growth. Growth 

in the construction sector eased to 0.4% on the month in Feb from 3.5% 

in Jan. An Office for National Statistics official said that they had 

received reports of customers in the manufacturing sector stockpiling 

ahead of the then March 29 Brexit deadline, supporting output, but they 

could not quantify the effect. Financial and insurance services 

contracted 0.1% month, the twelfth consecutive monthly decline and the 

longest such run on record with the sector shrinking 2.4% 3-month 

year-on-year, the 19th such decline and again the longest on record.