A sharp fall in car and computer production weighed on the UK’s economic expansion.
Image source, Getty Images
The UK’s economic growth slowed in February following a sharp fall in the production of cars and computer goods.
The Office for National Statistics (ONS) said the economy expanded by 0.1% compared with 0.8% in January.
The fall in manufacturing was off-set by growth in the services sector including areas such as tourism and travel.
The ONS also said that the UK economy is 1.5% above its pre-coronavirus pandemic level in February 2020.
Economists had been expecting gross domestic product (GDP) – which measures activity in services, construction and manufacturing – to grow by 0.3% in February.
“Following the bounce at the start of the year, it’s no surprise that economic growth slowed in February,” said Alpesh Paleja, lead economist at the CBI, a business lobby group.
“Near-term challenges to the outlook have ramped up since, with a growing cost-of-living crunch set to weigh on growth,” he said. “Businesses are also grappling with headwinds from the Ukraine conflict, which is exacerbating cost pressures and supply chain disruption.”
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- 31 March
