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| UK economy saw no growth in February | UK economy saw no growth in February |
| (31 minutes later) | |
| The UK economy saw no growth in February after expanding in January, official figures show. | The UK economy saw no growth in February after expanding in January, official figures show. |
| Falls in public sector services linked to strikes were offset by growth in the construction industry, the Office for National Statistics (ONS) said. | Falls in public sector services linked to strikes were offset by growth in the construction industry, the Office for National Statistics (ONS) said. |
| It follows a surprise 0.4% jump in economic growth in January. | It follows a surprise 0.4% jump in economic growth in January. |
| Despite the flat performance in February, the chancellor said the country's economic outlook was "brighter than expected". | Despite the flat performance in February, the chancellor said the country's economic outlook was "brighter than expected". |
| Jeremy Hunt noted that GDP - the measure of economic growth - had grown by 0.1% in the three months to February and the UK was "set to avoid recession". | |
| But Labour said the UK was "lagging behind on the global stage with growth on the floor". | But Labour said the UK was "lagging behind on the global stage with growth on the floor". |
| "The reality of growth inching along is families worse off, high streets in decline and a weaker economy that leaves us vulnerable to shocks," said shadow chancellor Rachel Reeves. | |
| High energy prices, rising interest rates and weak trade flows have been dragging on the UK economy. | |
| On Wednesday, the International Monetary Fund warned the UK is set to be one of the worst performing major economies in the world this year. | On Wednesday, the International Monetary Fund warned the UK is set to be one of the worst performing major economies in the world this year. |
| Darren Morgan, ONS director of economic statistics, said the UK construction sector had grown strongly in February after a poor January, with increased repair work taking place. | Darren Morgan, ONS director of economic statistics, said the UK construction sector had grown strongly in February after a poor January, with increased repair work taking place. |
| There was also a boost from retailing, with many shops having "a buoyant month". | There was also a boost from retailing, with many shops having "a buoyant month". |
| But he added: "These were offset by the effects of Civil Service and teachers' strike action, which impacted the public sector, and unseasonably mild weather led to falls in the use of electricity and gas." | But he added: "These were offset by the effects of Civil Service and teachers' strike action, which impacted the public sector, and unseasonably mild weather led to falls in the use of electricity and gas." |
| Related Topics | Related Topics |
| GDP | GDP |
| Economic growth | Economic growth |
| UK economy | UK economy |
| Office for National Statistics |