'Mild recession is imminent' as UK records no growth in February

'Economic danger zone'

UK monthly real gross domestic product is estimated to have shown no growth in February 2023, according to the Office for National Statistics.

GDP largely remained flat because falls in services and production were offset by growth in construction. This halted the growth trajectory as GDP rose 0.4% in January and by 0.1% in the three months to February, the ONS said. UK marginally avoids technical recession as GDP data beats expectations More specifically, the service sector fell by 0.1% after growing 0.7% in January, but the largest fall in services output came from education, public administration and defence due to the impact of compulsory social security and industrial action over the month. Output in consumer-faci...