UK shows 'first signs' of recovery as economy grows 0.4% in February

1.6% uptick in construction sector

The UK economy returned to growth in February, expanding by an estimated 0.4% even as nationwide lockdowns remained in place, although GDP output remained 7.8% below a year earlier, according to the latest figures.

The Office for National Statistics (ONS) reported that the service sector grew by 0.2% in February 2021, as wholesale and retail trade sales "picked up a little" but said that, overall, consumer-facing services industries remain "well below" pre-pandemic (February 2020) levels. However, the production sector grew by 1% in February, as manufacturing picked up by 1.3% following a contraction in January. 'A sobering first quarter' ahead: UK GDP falls 2.9% in January amid third national lockdown The ONS said that both new work and repair & maintenance resulted in a 1.6% uptick in the c...