UK GDP grows by 0.1% in Feb after 0.8% growth in Jan

GDP grew by 1 per cent in the three months to February 2022, the Office for National Statistics said in a press release.

Output in consumer-facing services, that includes retail trade, grew by 0.7 per cent in February 2022, following 2 per cent growth in January (revised up from 1.7 per cent). Consumer-facing services are now 5.2 per cent below their pre-coronavirus levels, while all other services are 4 per cent above.

Services grew by 0.2 per cent and was the main contributor to February's growth in GDP; this was partially offset by production, which fell by 0.6 per cent.

ALCHEMPro News Desk (DS)