UK economy grew 0.4% in February during national lockdown

, UK economy grew 0.4% in February during national lockdown, The Nzuchi Times News

The UK economy grew 0.4 per cent in February as the country endured the latest lockdown measures, official figures show.

Economic output remained 7.8 per cent down on its level a year earlier and 3.1 per cent below the initial recovery peak in October 2020, the Office for National Statistics reported.

Gross domestic product fell less than previously thought in January, down 2.2 per cent, not 2.9 per cent as had been estimated.

Restrictions were in place to varying degrees across all four nations of the UK throughout January and February.

The latest figures indicate the scale of recovery required as restrictions on shops, restaurants and other businesses begin to ease this week.

An Office for National Statistics (ONS) spokeswoman said: “The economy showed some improvement in February after the large falls seen at the start of the year but remains around 8% below its pre-pandemic level.

, UK economy grew 0.4% in February during national lockdown, The Nzuchi Times News

“Wholesalers and retailers both saw sales pick up a little, while manufacturing improved with car producers experiencing a partial recovery from a poor January.

“Construction grew strongly after revised figures showed they had struggled in the last couple of months.

“Exports to the EU recovered significantly from their January fall, though still remain below 2020 levels.

“However, imports from the EU are yet to significantly rebound, with a number of issues hampering trade.”

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