The British National Statistics Office (Ones) announced the growth data for February while updating the growth rate for January.
Accordingly, the shrinkage, which was previously announced as 0.1 percent for the national economy in the January, was revised upward and the economy was followed by a horizontal course in the January.
In February, the UK economy grew by 0.5 percent on a monthly basis. The expectation was that the economy would grow by 0.1 percent in February.
In this period, while the service sector activity increased by 0.3 percent, the manufacturing and construction sectors grew by 1.5 percent and 0.4 percent, respectively.
Real Economy, December 2024-February 2025, including three months in three months compared to the previous three-month period has grown by 0.6 percent.
Strong growth in the service sector
OnS Economic Statistics Director Liz McKEANNEN, in his assessment of the data, said that the three -month growth in the three -month period received support from the service sector activity.
British Finance Minister Rachel Reeves, in his share of social media account, the growth figures “the government’s plan of change is working” showing, “However, we do not get caught up. The world has changed, we must go further and accelerate economic growth, to ensure that they gain safety and more.” evaluated.
“US tariffs can hit the economy by 0.3 percent to 0.6 points”
Deutsche Bank British Chief Economist Sanjay Raja, in his note on the growth figures, the British economy, which is the engine of the British economy, said that the service sector “works well”.
Raja stated that large -scale signs of durability are seen in the service sector for the beginning of the year and said:
“Bad news, the leap in manufacturing production may be short -lived. When we look at the sectors such as textile, clothing, medicine, metal, electric manufacturing in February, we think that there are clear signs that the US may have some stock accumulation before this month’s tariff statement.
Raja, pointing to the importance of the next period for the British economy, “If we are right, a correction in stocks can take down the second quarter growth. Likewise, the increase in trade uncertainty with the start of customs tariffs from April will be affected by the increase in trade uncertainty. The estimation of the US President Donald Trump’s 10 percent of the Customs duties of the UK economy will show a blow between 0.3 and 0.6 percent.” He said.
