UK out of 'short and shallow' recession as GDP grows 0.1% in February

January figures revised up to 0.3%

The UK economy grew by 0.1% in February, with January GDP data revised up from 0.2% to 0.3%, according to the Office for National Statistics.

Despite coming in lower than the previous month, positive GDP growth for the second month in a row signals that the UK is pulling out of the "short and shallow" recession from the second half of 2023, industry players highlighted. ECB holds rates at 4% as 'more data' is needed before cuts can begin The largest contributor to economic growth over the month was production output, which increased 1.1%, following a fall of 0.3% in January. Services output followed suit with a 0.1% rise, down from 0.3% in January. However, the ONS noted construction was the biggest detractor to growt...