Forex News

UK reports 0.3% growth in the quarter through February

UK growth in February

Britain’s economy expanded in line with forecasts in February after growth in all sectors, while it saw improvement in growth over the quarter, data from the ONS showed on Wednesday.

U.K. GDP signaled a 0.2 percent growth in the month of February, following a growth of 0.5 percent in January.

In the December-February quarter, the economy grew by 0.3 percent, accelerating from 0.2 percent in the previous three months, while expanded 2.0 percent year-on-year in February, the best result since late 2017.

U.K. manufacturing production advanced 0.9 percent, construction output edged up 0.4 percent and industrial production soared 0.6 percent.

The overall trade in goods shortfall narrowed to 14.1 billion pounds in February from a revised deficit of 14.6 billion pounds.

As of 09:33 GMT, the pound traded higher at $1.3075, ahead of a meeting between Theresa May and EU leaders in Brussels tonight as she aims to secure another Brexit extension. 

Share Article