UK economy clawed back ground in February with 0.4% growth
UK economy clawed back ground in February with construction sector driving 0.4% growth despite brutal lockdown
- The UK economy grew by 0.4 per cent in February according to latest figures
- The expansion came despite the brutal Covid lockdown rules still being in force
- GDP is still around 8 per cent lower than before the pandemic caused chaos
The UK economy clawed back ground in February with 0.4 per cent growth despite the brutal lockdown in force.
The official figures marked a recovery from the grim 2.2 per cent drop the previous month, with the construction sector driving the improvement.
However, GDP is still 8 per cent below the level it reached before coronavirus sent the world spiralling into chaos.
An ONS spokesman said: ‘The economy showed some improvement in February after the large falls seen at the start of the year but remains around 8 per cent below its pre-pandemic level.
The official figures marked a recovery from the grim 2.2 per cent drop the previous month, with the construction sector driving the improvement
‘Wholesalers and retailers both saw sales pick up a little, while manufacturing improved with car producers experiencing a partial recovery from a poor January.
‘Construction grew strongly after revised figures showed they had struggled in the last couple of months.
‘Exports to the EU recovered significantly from their January fall, though still remain below 2020 levels. However, imports from the EU are yet to significantly rebound, with a number of issues hampering trade.’
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