Conscious Investing Today
  • Top News
  • Business Insider
  • Economic Indicators
  • Investing Ideas
  • Politics News
  • Stock Analysis
  • Editor’s Pick
No Result
View All Result
  • Top News
  • Business Insider
  • Economic Indicators
  • Investing Ideas
  • Politics News
  • Stock Analysis
  • Editor’s Pick
No Result
View All Result
Conscious Investing Today
No Result
View All Result
Home Editor's Pick

UK economy grew slightly in February official figures show

by
April 13, 2021
in Editor's Pick, Stock Analysis
0
UK economy grew slightly in February official figures show
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

retail sales grow

The UK economy “showed some improvement” in February after growing by 0.4%, according to official figures.

However, the Office for National Statistics said the economy was still 7.8% smaller than a year earlier, before the impact of the coronavirus pandemic.

Coronavirus restrictions remained in place to varying degrees across all four nations of the UK throughout January and February.

Goods exports to the EU partially rebounded in February after a record slump at the start of the year, the official figures show.

The ONS said sales to the bloc rose by £3.7bn, or 46.6%, having fallen by £5.7bn, or 42%, in January.

However imports from the EU, which also saw an unprecedented decline at the start of the year, recovered less than a fifth of the lost trade.

Britain’s trading with the rest of the world at the start of this year has been affected by additional red tape and costs following the end of the Brexit transition period, with COVID-19 restrictions and wider global economic trends also having an impact.

Commenting on the data Ulas Akincilar, Head of Trading at the online trading provider, INFINOX, said: “The bounceback is on. While many had hoped for a faster rate of growth, UK output expanded in February, and as lockdown restrictions continue to ease across the country, there’s an increasing sense of the shackles coming off the economy.

ADVERTISEMENT

“It says much about the UK’s pent-up demand that even in February, deep in lockdown, growth returned. Manufacturing output jumped by 1.3% and construction by 1.6%, but with Britain’s dominant services sector all but flatlining, overall growth was pegged back.

“The progress may not have reversed January’s fall, but with high streets at last pulling up the shutters, from here on out the only way is up.

“With the FTSE 250 still hovering close to the record highs seen last week and wider business confidence soaring, the debate has moved on to how broad and sustainable the recovery will be – and what inflationary fallout will come with it.

“The fact is millions of Britons have built up savings during a long year of no commuting and no foreign travel. If those nest eggs are now cracked in a splurge of relief spending, inflation could soar and force the Bank of England to raise interest rates.

“But for now the markets see that threat as one to worry about tomorrow. Growth is back, sentiment is back and the focus is on picking which sectors will be the biggest winners as the UK’s deep-frozen economy thaws in the spring sunshine.”

Read more:
UK economy grew slightly in February official figures show

Related Posts

A Guide on How to Avoid Overdraft Fees
Editor's Pick

A Guide on How to Avoid Overdraft Fees

July 7, 2022
Government’s failure to deliver on Net Zero is not only to blame for the UK not meeting targets     
Editor's Pick

Government’s failure to deliver on Net Zero is not only to blame for the UK not meeting targets     

July 7, 2022
UK export revenues decline by 6% in the past year
Editor's Pick

UK export revenues decline by 6% in the past year

July 7, 2022
Next Post
Microsoft makes $20bn bet on speech AI firm Nuance

Microsoft makes $20bn bet on speech AI firm Nuance

UK and EU edge closer to deal on Brexit checks in Northern Ireland

UK and EU edge closer to deal on Brexit checks in Northern Ireland

Shoppers surge back to high streets as Covid lockdown eases in England

Shoppers surge back to high streets as Covid lockdown eases in England

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Categories

  • Economic Indicators
  • Editor's Pick
  • Investing Ideas
  • Politics News
  • Stock Analysis

Popular News

  • A Minute With: Family Reunion cast on relatable story lines

    A Minute With: Family Reunion cast on relatable story lines

    0 shares
    Share 0 Tweet 0
  • Twitter launches ‘Milk Tea Alliance’ emoji as movement grows

    0 shares
    Share 0 Tweet 0
  • Gas and car bills to soar under green revolution

    0 shares
    Share 0 Tweet 0
  • Level up your gaming experience with vivo Y20s [G]

    0 shares
    Share 0 Tweet 0
  • Rehab, expansion of General Santos airport seen completed by Q2

    0 shares
    Share 0 Tweet 0
No Result
View All Result

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Highlights

SC suspends metro court judge over homophobic remarks   

Ex-Defense chief Lorenzana to head BCDA 

House bill on mandatory bank secrecy waiver for gov’t officials, workers refiled

Fuel excise tax suspension will induce more economic activities — Poe 

Marcos meets Energy team without a chief 

Hearing for Marcos ill-gotten wealth case moved by court

Trending

PSEi down on profit taking after three-day climb
Politics News

PSEi down on profit taking after three-day climb

by
July 7, 2022
0

BW FILE PHOTO PHILIPPINE STOCKS fell on Thursday on profit taking and data showing more Filipinos were...

Davao City records 30 new COVID-19 cases, positivity rate at 6.3%

Davao City records 30 new COVID-19 cases, positivity rate at 6.3%

July 7, 2022
Baguio mulls centralized parking for weekend tourists, use of hop on-hop off bus service

Baguio mulls centralized parking for weekend tourists, use of hop on-hop off bus service

July 7, 2022
SC suspends metro court judge over homophobic remarks   

SC suspends metro court judge over homophobic remarks   

July 7, 2022
Ex-Defense chief Lorenzana to head BCDA 

Ex-Defense chief Lorenzana to head BCDA 

July 7, 2022

Disclaimer: ConsciousInvestingToday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2021 ConsciousInvestingToday. All Rights Reserved.

No Result
View All Result
  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.