UK Ecomony still growing In Feb as Recession Looks Over

UK GDP grew 0.1% in February 2024, following upwardly revised growth of 0.3% in January, the Office for National Statistics said Friday, noting the economy grew by 0.2% in the three months to February compared to the 3 months to November.

• Services output grew by 0.1% in February 2024, following growth of 0.3% in January 2024 (revised up from 0.2% growth in our previous publication), and has grown by 0.2% in the three months to February 2024.
• Production output grew by 1.1% in February 2024 and was the largest contributor to the growth in GDP in the month, following a fall of 0.3% in January 2024 (revised down from a 0.2% fall in our previous publication); production output grew by 0.7% in the three months to February 2024.
• Construction output fell by 1.9% in February 2024, following an unrevised growth of 1.1% in January 2024; construction output has fallen by 1.0% in the three months to February 2024.
• The ONS sais all being equal, the economy would need to fall by between around 1% and 1.2% for growth in QI to be flat
• ONS Director of Economic Statistics Liz McKeown said the economy grew slightly in February with "widespread growth across manufacturing, particularly in the car sector. Services also grew a little with public transport and haulage, and telecommunications having strong months".
• “Partially offsetting this there were notable falls across construction as the wet weather hampered many building projects," she added.